Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand5,400 units; cost $7.00 each. August 8 Purchased 21,600 units for $7.20 each. August 14 Sold 16,200 units for $13.70 each. August 18 Purchased 16,200 units for $7.30 each. August 25 Sold 18,900 units for $12.70 each. August 28 Purchased 10,800 units for $7.50 each. August 31 Inventory on hand18,900 units. Required: 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.

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 sta method