Neighborly Industries has the following inventory information. 
Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a FIFO basis?
Definitions:
Information Processing
The series of activities by which stimuli are perceived, transformed into meaningful information, and stored in memory.
Similar To A Computer
A phrase used to describe entities that possess processing capabilities or functionalities that resemble those of a digital computer.
Recall Tests
Testing methods used in marketing research to measure the extent to which a consumer can recall or recognize brands, products, advertisements, or other marketing elements after a specific period.
Nostalgia
A sentimental longing or affection for the past, often associated with happy personal memories.
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