Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2014 are as follows: 
An end of the month (1/31/2014) inventory showed that 160 units were on hand. If the company uses LIFO, what is the value of the ending inventory?
Definitions:
Years of Schooling
The total number of years that an individual has spent in formal education.
Inductive Reasoning
Reasoning that involves drawing conclusions that are suggested but are not necessarily true.
Deductive Reasoning
Drawing conclusions from only the given premises.
Fourth Grade
Refers to the fourth year of formal education in most primary education systems, typically involving students aged 9 to 10 years.
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