Answer:
$19,192
Explanation:
Foxworthy Corporation before-tax profit/loss using LIFO method will be;
24000 units * $6.00 per unit = $144,000
16808 units * $7.00 per unit = $117,656
In 2018 the inventory quantity declined by 18000 units.
The cost of 18,000 units will be 18,000 * $8.00 per unit = $144,000
16,808 units * $7.00 per unit = $117,656
18,000 units - 16,808 units = 1,192 units
1,192 units * $6.00 per unit = $7,152
Profit/ Loss due to inventory decline :
$144,000 - $117,656 - $7,152 = $19,192.
