Shellhammer Company's inventory records show the following data for the month of September: 
A physical inventory on September 30 shows 200 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:
Rejection Region
The range of values in hypothesis testing that if the test statistic falls within, leads to the rejection of the null hypothesis.
Alternative Hypothesis
Represents a statement that contradicts the null hypothesis and is considered true if the null hypothesis is proven to be false, often denoting the presence of an effect or difference.
Test Statistic
A value calculated from sample data to evaluate a hypothesis in statistical hypothesis testing.
Sampling Distribution
The probability distribution of a statistic (for example, a mean, variance) obtained from a large number of samples drawn from a specific population.
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