Shellhammer Company's inventory records show the following data for the month of September: 
A physical inventory on September 30 shows 200 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system.
Definitions:
Restricting Imports
Government policies aimed at reducing the number of goods and services that can be imported into a country to protect domestic industries.
Personal Income
the total earnings received by individuals from all sources before taxes, including wages, salaries, benefits, and investment income.
Labor Services
Work performed by individuals for wages or salary, especially in the context of the workforce contributing to economic output.
Euro
The official currency of 19 out of the 27 European Union countries, which is used as a common legal tender for transactions within this zone.
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