Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-2,400 units; cost $5.50 each. August B Purchased 9,600 units for $5.70 each. August 14 Sold 7,200 units for $12.20 each. August 18 Purchased 7,200 units for $5.80 each.. August 25 Sold 8,400 units for $11.20 each. August 28 Purchased 4,800 units for $6.00 each. August 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, 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. 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, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement method. Cost of Goods Available for Sale Cost of Goods Sold-Periodic FIFO Ending Inventory-Pariodic FIFO FIFO Number of units Cost per unit Cost of Goods Available for Sale Number of units sold Cost per unit Cost of Goods Sold Number of units in ending inventory Cost Ending per unit Inventory Beginning Inventory Purchases 2.400 $5.50 $ 13,200 $5.50 $5.50 6 of 19 Next > sed 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. 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, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement method. Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory-Periodic FIFO FIFO Number of units Beginning Inventory Cost per unit 2,400 $5.50 $ Cost of Goods Available for Sale: Number of units sold Cost per unit Cost of Goods Sold Number of units in anding Inventory Cost Ending per unit Inventory 13,200 $5.50 $ 5.50 Purchases: August 8 9,600 $5.70 54,720 $5.70 $5.70 August 18 7,200 $ 5.80 41,760 $ 5.80 $5.80 August 28 4,800 $6.00 28,800 $6.00 $6.00 Total 24,000 $ 138,480 FIFO LIFO > 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. Complete this question by entering your answers in the tabs below. FIFO Average Cost LIFO 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 LIFO method. Ending Inventory-Periodic LIFO Number of units Cost of Goods Available for Sale Cost of Goods Sold-Periodic LIFO LIFO Cost Number of units per unit Cost of Goods Available for Sale Number of units sold Cost per unit Cost of Goods Sold in ending Inventory Beginning Inventory 2,400 $5.50 $ 13,200 $5.50 Purchases: August 8 9,600 $5.70 54,720 $5.70 August 18 7,200 $5.80 41,760 $5.80 August 28 4,800 $6.00 28,800 $6.00) Total 24,000 $ 138,480 Cost Ending per unit Inventory $5.50 $5.70 $5.80 $6.00 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. 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, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement cost method. Note: 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 Average Cost Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost Cost of Goods per Unit Sold Number of units in ending Inventory Average Cost per unit Ending Inventory Beginning Inventory 2,400 $ 5.50 $ 13,200 Purchases: August 8 9,600 $ 5.70 54,720 August 18 7,200 $ 5.80 41,760 August 28 4,800 $ 6.00 28,800 Total 24,000 $ 138,480