The Foxworthy Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inventory of 78,000 units consisted of the following, listed in chronological order of acquisition:

43,000 units at a cost of $5.00 per unit =	$	215,000
35,000 units at a cost of $6.00 per unit =		210,000

During 2018, inventory quantity declined by 38,900 units. All units purchased during 2018 cost $7.00 per unit.

Required:

Calculate the before-tax LIFO liquidation profit or loss that the company would report in a disclosure note assuming the amount determined is material.