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.

---

Definitions:

Obsession

Persistent, intrusive, and unwanted thoughts, images, or urges that cause distress or anxiety.

Fires

Rapid, persistent chemical change that releases heat and light and is often accompanied by flame, especially the exothermic oxidation of a combustible substance.

Overwhelming Desire

An intense and consuming longing or craving, often so strong that it becomes difficult to manage or control.

Compulsion

Compulsion is a psychological condition characterized by the irresistible urge to perform specific acts repeatedly, often against the individual’s conscious wishes, as seen in disorders like Obsessive-Compulsive Disorder (OCD).