Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $960,000 (40,000 units at $

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answerhappygod
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Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $960,000 (40,000 units at $

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Esquire Inc. uses the LIFO method to report its inventory.
Inventory at January 1, 2021, was $960,000 (40,000 units at $24
each). During 2021, 120,000 units were purchased, all at the same
price of $29 per unit. 122,000 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?
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