Use the following to answer question: 
-(Figure: The Markets for Melons in Russia) Use Figure: The Market for Melons in Russia.Suppose the world price of melons is D.Russia will _____ of melons.
Definitions:
FIFO Method
"First In, First Out," an inventory valuation method where goods purchased or produced first are sold or consumed first.
Inventory Costing Methods
The techniques used to value and account for inventory, including first-in-first-out (FIFO), last-in-first-out (LIFO), and weighted average cost methods.
Perpetual System
An inventory management method where inventory quantities and cost of goods sold are updated continuously with each sale or purchase.
Periodic System
A method of inventory valuation for financial reporting purposes where a physical count of the inventory is performed at specific intervals to determine the ending inventory balance and the cost of goods sold.
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