Use this inventory information for the month of August to answer the following question. 
Assuming that a perpetual inventory system is used.
-What is ending inventory on a FIFO basis?
Definitions:
Regulation
Rules or directives made and maintained by an authority to control or manage activities, often to protect public interests.
Protect Competition
Measures and policies established to ensure fair competition within markets, preventing monopolies and fostering innovation and fairness.
Social Regulation
Regulations that aim to protect public welfare, including health and safety standards, environmental protections, and consumer rights.
No Free Lunch
Refers to the idea that one cannot get something for nothing; for every benefit or good received, a cost, either direct or indirect, is incurred.
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