McGinnis Company begins operations on July 1, 2018. Information from job cost sheets shows the following: Manufacturing Costs Assigned Job No.JulyAugust September100 $12,000 $8,800101 8,800 9,700 $12,000102 5,00010311,800 6,0001045,800 7,000

Job 102 was completed in July. Job 100 was completed in August, and Jobs 101 and 103 were completed in September. Each job was sold for 80% above its cost in the month following completion.

Instructions (a) Compute the balance in Work in Process Inventory at the end of July. (b) Compute the balance in Finished Goods Inventory at the end of September. (c) Compute the gross profit for August.