accounting homework help!
y Homework Problems Saved Help Save & Exit Subr Check my work Required information [The following information applies to the questions displayed below.) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-3,700 units cost $7.00 each. 8 Purchased 18,500 units for $7.20 each. 14 Sold 14,800 units for $13.70 each. 18 Purchased 11,100 units for $6.40 each. 25 Sold 13,800 units for $12.70 each. 28 Purchased 5,700 units for $5.80 each. 31 Inventory on hand 10,400 units. Required: 1. Using calculations based on a perpetual 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 the FIFO method. Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Perpetual Fifo Cost of Goods Available for Sale Cost of Cost per Goods unit Available for Sale of ofi Coat per unit Cost of Goods Sold of units sold Cost per unit Cost of Goods Sold Total Cost of Goods Sold Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would repo balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO me Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - Augu Perpetual FIFO: #of # of units Cost per unit Cost of Goods Available for Sale units sold Cost per Cost of unitG oods Sold # of units sold Cost per unit Cor Good Beg. Inventory Purchases: August 8 August 18 August 28 Total Homework Problems i Saved Help Save & E Chec Required information [The following information applies to the questions displayed below.) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug. 1 Inventory on hand-3,700 units; cost $7.80 each. 8 Purchased 18,500 units for $7.20 each. 14 Sold 14,800 units for $13.70 each. 18 Purchased 11,100 units for $6.40 each. 25 Sold 13,800 units for $12.70 each 28 Purchased 5,700 units for $5.00 each. 31 Inventory on hand-10,400 units. 2. Using calculations based on a perpetual 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 the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods Sold Perpetual Average of Inventory Balance of units in ending cost per Ending Inventory Cost per Inventory Value # of units Avg Cost Cost of soldnar unit Goods Sold
