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 cost of goods sold for the year according to the LIFO method?
Definitions:
Interest Charge
A fee charged by a lender to a borrower for the use of borrowed money, often expressed as an annual percentage of the principal.
Inherited Money
Wealth or assets received from someone after their death.
Wedding Expenses
The costs associated with organizing a wedding ceremony and reception.
Compound Interest
Interest calculated on the initial principal, which also includes all of the accumulated interest of previous periods of a deposit or loan.
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