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 LIFO inventory costing and a periodic inventory system.
Definitions:
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable by holding others constant.
Yield
The income return on an investment, such as the interest or dividends received, expressed as a percentage of the investment's cost.
Bond
A fixed-income instrument that represents a loan made by an investor to a borrower, typically corporate or governmental, which pays periodic interest and the return of the principal at maturity.
Treasury Bill
Short-term, highly liquid government debt obligation issued at a discount from the face value and returning the face amount at maturity.
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