Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: 
An end of the month (1/31/18) inventory showed that 160 units were on hand. If the company uses LIFO, what is the value of the ending inventory?
Definitions:
Real Interest Rate
The interest rate adjusted for inflation, reflecting the true cost of borrowing and the real yield to savers.
Loanable Funds
The supply of funds available for borrowing in the financial markets, impacting interest rates.
Quantity Supplied
The amount of a good that sellers are willing and able to sell.
Trade Policies
Measures and agreements set by governments to control exports and imports with the aim to protect domestic industries, manage the balance of payments, and promote economic growth.
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