The units of an item available for sale during the year were as follows: 
There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using LIFO.
Definitions:
Inventory Investment
Investment in stockpile that companies hold to manage production and sales flow, impacting the overall business operations and financial health.
Limited Partnership
A Limited Partnership is a form of partnership in which some partners contribute capital and enjoy a share of the profit but are not liable for the debts of the partnership beyond the amount they contributed.
Capitalization
The total market value of all of a company's outstanding shares, calculated by multiplying the share price by the total number of shares.
Profit Rate
The ratio of profit generated to the amount of capital or funds invested over a certain period, often expressed as a percentage.
Q61: A physical inventory taken at year end
Q62: The effect of closing revenues and expenses
Q76: There are two closing entries. The first
Q86: All money claims against other entities<br>A)Accounts receivable
Q88: If an adjusting entry is made on
Q91: Which of the following is true of
Q120: The income statement is prepared from the
Q132: Which document establishes an initial record of
Q191: During August, the first month of the
Q225: In retail businesses, inventory is reported as