Hess Company's inventory records show the following data for the month of September: 
A physical inventory on September 30 shows 150 units on hand.
Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system.
Definitions:
Safety Standards
are established norms or criteria designed to ensure the safe design, production, use, and disposal of products and services.
Insurance Contracts
Agreements between an insurer and the insured, where the insurer agrees to compensate the insured for loss under specific circumstances in exchange for a premium.
Fire and Theft
Refers to a type of insurance coverage that protects against the specific losses of fire damage and theft.
Victims
Individuals who suffer harm as a result of criminal activity, negligence, or another wrongful action.
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