The following lots of a particular commodity were available for sale during the year: 
The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the LIFO method?
Definitions:
Slope
A measure of the steepness of a line, often representing the rate of change in a linear relationship.
Linear Regression Equation
An equation used in statistics to model the relationship between a dependent variable and one or more independent variables.
Slope
The rate at which the dependent variable changes with respect to an independent variable in a function or a graph.
Intercept
The point where a line or curve crosses an axis on a graph, often referring specifically to where it crosses the Y-axis.
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