A company had the following purchases and sales during its first year of operations: 
On December 31,there were 26 units remaining in ending inventory.
-Using the periodic LIFO inventory costing method,what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)
Definitions:
Implicit Personality Theory
The assumption individuals make about how different types of personalities, traits, and behaviors are related.
Assumptions
Basic beliefs or ideas that are accepted as true without proof, forming the basis for reasoning and decision making.
Cognitive Dissonance
A psychological discomfort experienced when holding contradictory beliefs, attitudes, or when actions conflict with one's beliefs.
Festinger and Carlsmith
Psychologists known for their 1959 cognitive dissonance experiment which demonstrated how attitudes can change to align with behavior.
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