Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the inventory on November 30 and (b) the cost of the goods sold for November. 
Definitions:
Sales Decline
A decrease in the volume or value of sales over a specific period.
Margin of Safety
The extent by which sales can fall before reaching the break-even point.
Break-even Sales
The amount of revenue required to cover all fixed and variable expenses associated with producing and selling a product.
Dollars
A unit of currency used in various countries, including the United States, associated with financial transactions, savings, and debts.
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