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Complete this question by entering your answers in the tabs below. Determine the inventory balance Altira would report in its Aupust 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the LIFo method. Complete this question ty entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Determine the inventory balance Altira would report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the Average cost method. Noto: Round "Average Cost per Unit" to 2 decimal places. Altira Corporation provides the following information related to its inventory during the month of August 2024 : mucust 1 - Inventory on hand-2,000 unitss cost $5.30 each. Aurgust is Purchased o, 000 units for $5,50 each. Aupust 14 sold 6,000 units for $12,00 each. August 18 Purchased 6,000 units for $5.60 each. August 25 sold 7,000 units for $11, eo eoch. August 28 Purchased 4,000 units. for $5.50 each. August 31 Inventory on hand-7, 000 units. Required: Using calcutations based on a periodic inventory system, determine the inventory balance Altira would ieport in its August 31,2024 , balance sheet and the cost of goods sold it would report in its. August 2024 income statement using each of the following cost flow methods. Complete this question by entering your answers in the tabs below. Determine the imventory bolance Afira would report in its August 21,2024 , balance sheet and the cost of goods sold it would report in its Aupust 2024 incorne staterves using the Lilo method