A company provides the following information related to its inventory during the month of August, Year 1: August 1 Inventory on hand-6, aed units; cost 57,30 each. August 8 Purchased 24,000 units for $7.50 each. August 14 sold 18 , e0e units for $14,00 each. August 18 Purchased 18, 0e0 units for 57.60 each. August 25 sold 21, 000 units for $13.60 each. August 28 Purchased 12,00 units for $7.80 each. August 31 Inventory on hand-21, 000 units. Required: Using calculations bosed on a periodic inventory system, determine the inventory balance the company would report in its August 31 . Year 1 , balance sheet and the cost of goods sold it would report in its August, Year 1 income statement using each of the following cost fiow methods. Complete this question by entering your answers in the tabs below. Determine the inventory balance the company would report in its August 31, Year 1 , balance sheet and the cost of goods sold it would report in its August, Year the FIFO method. A company provides the rollowing intormation related to its inventory during the month of August, Year 1: August 1 Inventory on hand-6, eao units; cost $7.30 each. August 8 Purchased 24,800 units for 57.50 each. August 14 Sold 18,600 units for 514.00 each. August 18 Purchased 18,60e units for $7,60 each. August 25 sold 21,008 units for $13. 82 each. August 28 Purchased 12, e00 units for $7,80 each. August 31 Inventory on hand-21, 600 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance the company would report in its August 31 , Year 1 , balance sheet and the cost of goods sold it would report in its August, Year 1 income statement using each of the following cost flow methods. Complete this question by entering your answers in the tabs below. Determine the inventory balance the company would report in its August 31, Year 1 , balance sheet and the cost of goods sold it would report in its August, Y using the LIFo method. A company provides the following information related to its inventory during the month of August, Year 1 : August 1 Inventory on hand-6,000 units; cost 57.30 each. August 8 Purchased 24,000 units for 57,50 each. August 14 Sold 18,000 units for $14.00 each. August 18 Purchased 18,000 units for $7.60 each. August 25 sold 21,000 units for $13.00 each. August 28 Purchased 12 , e0e units for $7.80 each. August 31 Inventory on hand-21, vee units. Required: Using calculations based on a periodic inventory system, determine the inventory balance the company would report in its August 31 , Year 1 , balance sheet and the cost of goods sold it would report in its August, Year 1 income statement using each of the following cost flow methods: Complete this question by entering your answers in the tabs below. Determine the inventory batance the company would report in its August 31, Year 1 , balance shcet and the cost of goods sold it would report in its August, Year the Average cost method. Note: Round "Average Cost per Unit" to 2 decimal places A company provides the following information related to its inventory during the month of August, Year 1: August 1 Inventory on hand-6, aed units; cost 57,30 each. August 8 Purchased 24,000 units for $7.50 each. August 14 sold 18 , e0e units for $14,00 each. August 18 Purchased 18, 0e0 units for 57.60 each. August 25 sold 21, 000 units for $13.60 each. August 28 Purchased 12,00 units for $7.80 each. August 31 Inventory on hand-21, 000 units. Required: Using calculations bosed on a periodic inventory system, determine the inventory balance the company would report in its August 31 . Year 1 , balance sheet and the cost of goods sold it would report in its August, Year 1 income statement using each of the following cost fiow methods. Complete this question by entering your answers in the tabs below. Determine the inventory balance the company would report in its August 31, Year 1 , balance sheet and the cost of goods sold it would report in its August, Year the FIFO method. A company provides the rollowing intormation related to its inventory during the month of August, Year 1: August 1 Inventory on hand-6, eao units; cost $7.30 each. August 8 Purchased 24,800 units for 57.50 each. August 14 Sold 18,600 units for 514.00 each. August 18 Purchased 18,60e units for $7,60 each. August 25 sold 21,008 units for $13. 82 each. August 28 Purchased 12, e00 units for $7,80 each. August 31 Inventory on hand-21, 600 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance the company would report in its August 31 , Year 1 , balance sheet and the cost of goods sold it would report in its August, Year 1 income statement using each of the following cost flow methods. Complete this question by entering your answers in the tabs below. Determine the inventory balance the company would report in its August 31, Year 1 , balance sheet and the cost of goods sold it would report in its August, Y using the LIFo method. A company provides the following information related to its inventory during the month of August, Year 1 : August 1 Inventory on hand-6,000 units; cost 57.30 each. August 8 Purchased 24,000 units for 57,50 each. August 14 Sold 18,000 units for $14.00 each. August 18 Purchased 18,000 units for $7.60 each. August 25 sold 21,000 units for $13.00 each. August 28 Purchased 12 , e0e units for $7.80 each. August 31 Inventory on hand-21, vee units. Required: Using calculations based on a periodic inventory system, determine the inventory balance the company would report in its August 31 , Year 1 , balance sheet and the cost of goods sold it would report in its August, Year 1 income statement using each of the following cost flow methods: Complete this question by entering your answers in the tabs below. Determine the inventory batance the company would report in its August 31, Year 1 , balance shcet and the cost of goods sold it would report in its August, Year the Average cost method. Note: Round "Average Cost per Unit" to 2 decimal places