Mesa Company's Inventory Records Show the Following Data for the Month

question 156

Essay

Mesa Company's inventory records show the following data for the month of September: $$\begin{array} { l c c } & \underline { \text { Units} } & \underline { \text { Unit Cost } } \\\text { Inventory, September 1 } &100& \$ 3.35 \\\text { Purchases: September8 } & 450 & 3.50 \\\quad\quad\quad\quad\quad\text { September 18 }& 350 & 3.70\end{array}$$
A physical inventory on September 30 shows 250 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.

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Definitions:

Reciprocal Determinism

A concept in social cognitive theory that suggests individual behavior, personal factors, and environmental influences all operate as interlocking determinants of each other.

External Locus of Control

The belief that one's success or failure is due to external factors outside their control.

Useless Studying

Useless studying refers to the act of engaging in study activities that do not effectively contribute to learning or understanding the material.

Social Cues

Signals and behaviors that guide interactions in social contexts, helping individuals navigate communicative and social nuances.