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:
Income
The money received by a person or group for work, from investments, or from various transfer payments.
Emotional Intelligence
The skill to recognize, regulate, and articulate one's own emotions, as well as to navigate relationships with others in a sensible and compassionate manner.
Perceiving Emotions
The process of recognizing and interpreting emotions in oneself and others through verbal and non-verbal cues.
Edward Thorndike
An American psychologist who developed the theory of connectionism, emphasizing the role of practice and reward in learning.
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