5 Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: 2 points Aug.1 Inventory on hand-2,700 units; cost $6.00 each. 8 Purchased 13,500 units for $6.20 each. 14 Sold 10,800 units for $12.70 each. 18 Purchased 8,100 units for $6.30 each. 25 Sold 9,800 units for $11.70 each. 28 Purchased 4,700 units for $5.80 each. 31 Inventory on hand-8,400 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using each of the following cost flow methods. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. FIFO LIFO Average Cost Determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale FIFO # of units Cost per unit Beginning Inventory 2,700 $6.00 $ Cost of Goods Sold - Periodic FIFO Cost Cost of Goods Available for Sale # of units sold per Cost of Goods Sold unit # of units in ending inventory Ending Inventory - Periodic FIFO Cost per unit Ending Inventory 16,200 0 x $6.00 2,700 $6.00 $ 16,200 Purchases: August 8 13,500 $6.20 83,700 13,500 $6.20 August 18 8,100 $6.30 51,030 8,100 $6.30 83,700 51,030 16,200 $6.20 13,500 $6.30 100,440 85,050 August 28 4,700 $5.80 27,260 4,700 x Total 29,000 $ 178,190 26,300 $ 134,730 8,400 40,800 $5.80 48,720 $ 250,410 FIFO LIFO Average Cost Determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using t LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO LIFO Cost Cost # of units in Cost # of units per Cost of Goods Available for Sale # of units sold per Cost of Goods Sold unit unit ending inventory per Ending Inventory unit Beginning Inventory 2,700 $6.00 $ 16,200 0 $6.00 $ 0 2,700 $6.00 $ 16,200 Purchases: August 8 13,500 $6.20 83,700 2,700 $6.20 16,740 2,700 $6.20 16,740 August 18 8,100 $6.30 51,030 8,100 $6.30 51,030 0 $6.30 0 August 28 4,700 $5.80 27,260 4,700 $5.80 27,260 3700 Total 29,000 $ 178,190 15,500 $ 67,770 5,400 $ 32,940 FIFO LIFO Average Cost Determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statem cost method. (Round "Average Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Cost of Average Cost # of units Unit Cost Goods Available for # of units sold Average Cost per Cost of Goods Sold Unit # of units in ending inventory Average Cost per unit Ending Inventory Sale 2,700 $6.00 $ 16,200 Beginning Inventory Purchases: August 8 13,500 $6.20 83,700 August 18 8,100 $6.30 51,030 August 28 4,700 $5.80 27,260 Total 29,000 $ 178,190 20,600 $ 12.22 $ 251,732 8,400 S 12.22 S 102,648