Western Boots Alliance, Incorporated, reported inventories of $2,290 million and $2,382 million in its August 31, 2020, and August 31, 2019, balance sheets, respectively. Cost of goods sold for the year ended August 31, 2020, was $29,604 million. The company uses primarily the LIFO inventory method. A disclosure note reported that if FIFO had been used instead of LIFO, inventory would have been higher by $290 million and $268 million at the end of the August 31, 2020, and August 31, 2019, periods, respectively. Calculate cost of goods sold for the year ended August 31, 2020, assuming Western used FIFO instead of LIFO.
