00000101
^      ^
|      least significant bit
most significant bit


Bitwise OR:  |


   01011100
 | 11110101
-----------
   11111101

01011100 | 11110101 == 11111101
____________________________________
Bitwise AND:  &

   01011100
 & 11110101
-----------
   01010100

01011100 & 11110101 == 01010100
____________________________________
Bitwise AND:  &

   01011100
 & 10100011
-----------
   00000000

01011100 & 10100011 == 00000000
____________________________________
Bitwise XOR:  ^

   01011100
 ^ 11110101
-----------
   10101001

01011100 ^ 11110101 == 10101001
____________________________________
Bitwise NOT

  ~01011100
  ---------
   10100011
____________________________________
Bitshift RIGHT:  >>
   
   01011100 >> 2 == 00010111
____________________________________
Bitshift LEFT:  <<

   01011100 << 2 == 01110000
____________________________________
 
To find out if the least significant bit (rightmost) is 1, you can bitwise-and with 1.

 00110010 & 00000001 == 0
 00110011 & 00000001 == 1