As in the previous Participation Exercise, the Khalid Company manufactures and sells Paso-the-Salsa, which is a bottled condiment used on a variety of foods. Each bottle is sold for $5. The company recently had the following costs to produce 12,000 units of its product during August:

A.		Rent of $5,000 on a billboard to help advertise the product
B.		Rent on factory and equipment of $8,000
C.		Total payroll for hourly paid, factory workers $24,000
D.		Tomatoes, onions, spices and bottles $18,000
E.		Total payroll for salaried, administrative staff $6,000

Answer the next three questions below using the data above (along with the appropriate product cost and period cost classifications from the previous Participation Exercise); however, assume that the company only sold 8,000 units of those produced (i.e. 2/3 of the units produced) for the month of August.

What is the company's cost of goods sold for the month (as needed, round your final answer to the nearest whole dollar)?company

What is the company's net income for the month (as needed, round your final answer to the nearest whole dollar)?

What is the company's ending inventory for the month (as needed, round your final answer to the nearest whole dollar)?