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:
Elementary School
A school for early education that teaches children from kindergarten through to fifth or sixth grades.
Exchange
The act of giving one thing and receiving another in return, often used in the context of trading goods, services, or currencies.
Production-oriented Era
Refers to a period in business history where the focus was primarily on production efficiency, manufacturing, and product capabilities rather than the needs or desires of customers.
Sales-oriented Era
A period in business history when the main focus of companies was increasing sales, often without regard to customer needs or satisfaction.
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