The following lots of a particular commodity were available for sale during the year: 
The firm uses the periodic system and there are 25 units of the commodity on hand at the end of the year.
What is the amount of the inventory at the end of the year using the FIFO method?
Definitions:
Flotation Costs
The costs associated with the issuance of new securities.
Low-dividend Stocks
Stocks of companies that pay lower dividends relative to their share price, often reinvesting earnings into the business for growth.
High-dividend Stocks
High-dividend stocks are shares issued by companies that return a relatively high percentage of their profits to shareholders in the form of dividends.
Personal Income Tax
A tax levied by governments on individuals or households based on their income, with the rate often varying based on income levels.
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