8. Altira Corporation provides the following information related to its inventory during the month of August 2024: Inventory on hand-2.600 units; cost $5.60 each. Purchased 10,400 units for $5.80 each. August 1 August 8 August 14 Sold 7,800 units for $12.30 each. August 18 August 25 Sold 9,100 units for $11.30 each. August 28 August 31 Required: Purchased 7,800 units for $5.90 each. Purchased 5,200 units for $6.10 each. Inventory on hand-9,100 units. Using calculations based on a periodic inventory system, 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 each of the following cost flow methods. Cost of Goods Available for Sale Cost of Goods Sold- Periodic FIFO Ending Inventory - FIFO Number Ending Cost per unit Inventory FIFO Number Cost COG Number of units per unit Available of units Cost per unit COGS for Sale sold of units in ending inventory Beginning 2,600 $5.60 $14,560 $5.60 $5.60 $ Inventory Purchases: August 8 10,400 $5.80 60,320 $5.80 $5.80 August 18 August 28 Total 7,800 $5.90 5,200 $5.90 $5.90 $6.10 $6.10 $6.10 26,000 Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - LIFO LIFO Number Cost of units per COG Available Number Cost Number Cost Ending of units per COGS unit for Sale sold unit of units in ending per Inventory unit inventory Beginning 2,600 $5.60 $14,560 $5.60 $5.60 $ Inventory Purchases: August 8 10,400 $5.80 60,320 $5.80 $5.80 August 18 7,800 $5.90 46,020 $5.90 $5.90 August 28 5,200 $6.10 31,720 $6.10 $6.10 Total 26,000 $152,620 Average Number Cost Cost of Goods Available for Sale COG Cost of Goods Sold - Periodic FIFO Ending Inventory - FIFO Number Cost Number Cost Ending Cost of units per Available of units per COGS unit for Sale sold unit of units in ending per unit Inventory inventory Beginning 2,600 $5.60 $14,560 Inventory Purchases: August 8 10,400 $5.80 60,320 August 18 7,800 $5.90 46,020 August 28 5,200 $6.10 31,720 Total 26,000 $152,620