Use this information to answer the following question. 
A periodic inventory system is used.
-Ending inventory under LIFO is
Definitions:
Quarterly Payroll
The total amount of wages paid by a business to its employees in a three-month period.
Ordinary Simple Interest
A method of calculating the interest charge on a loan based on the principal amount, interest rate, and time.
360-Day Year
Refers to an accounting simplification where a year is assumed to have 360 days instead of 365 or 366, commonly used in financial calculations.
Landscape Company
A business specializing in designing, implementing, and maintaining outdoor gardens and spaces, often including planting, hardscaping, and lawn care services.
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