Business, 01.10.2019 06:00 hannah396

The churchill corporation uses a periodic inventory system and the lifo inventory cost method for its one product. beginning inventory of 22,000 units consisted of the following, listed in chronological order of acquisition: 13,000 units at a cost of $8.00 per unit = $104,000 9,000 units at a cost of $9.00 per unit = 81,000 during 2021, inventory quantity declined by 12,000 units. all units purchased during 2021 cost $12.00 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.

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