Esquire Inc. uses the LIFO method to report its inventory. Inventory at January
1, 2021, was $420,000 (21,000 units at $20 each). During 2021, 82,000 units were purchased, all at the same price of $23 per unit. 86,000 units were sold during 2021.
Assuming an income tax rate of 25%, what is LIFO liquidation profit or loss that the company would report in a disclosure note accompanying its financial statements?