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:
Present Value
The current worth of a future sum of money or stream of cash flows, given a specified rate of return.
NPV Decision Rules
Guidelines used to determine the viability of an investment or project based on the Net Present Value, which calculates the present value of cash inflows minus the present value of cash outflows.
Shareholder Wealth
The total value of a company to its shareholders, typically measured by the market capitalization or the equity value of the company.
Cost of Capital
The necessary yield a business must secure on its ventures to sustain its valuation in the marketplace and raise capital.
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