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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?
Endowment
In economics, an endowment is the total range of assets, including both physical goods and intangible elements like labor skills, that an individual or entity owns.
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan amount.
Consumes
The act of using up goods or services for personal need, satisfaction, or utility, reducing the quantity available.
Consumption
The employment of goods and services within home environments.
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