Use this information to answer the following question. 
A periodic inventory system is used; ending inventory is 147 units.
What is ending inventory under FIFO?
Definitions:
Direct Materials
Raw materials that are directly traceable to the production of a specific good or service.
Incremental Revenues
Additional revenue that a company generates from selling more units of its products or services.
Special Order
A request for a product or service that is not part of a company’s standard offering, often requiring customization or special handling.
Opportunity Cost
The potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
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