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 8 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 st method. Cost of Goods Available for Sale Cost of Goods Sold Periodic FIFO Ending Inventory- Periodic 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 per unit Ending Inventory Beginning Inventory 2.400 $5.50 $ 13,200 $ 5.50 $5.50 $ 0 Purchases August 9.000 $ 5.70 54,720 $5.70 $5.70 August 18 7,200 $5.80 41.700 $15.00 August 28 4,800 $6.00 28,800 $6.00 $ 5.80 $6.00 Total 24.000 $ 138.480 10 S 10 0 LIFO > es 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 8 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 Cost of Goods Available for Sale LIFO Number of units Cost per unit Cost of Goods Available for Sale Number of units sold 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 statem LIFO method. Ending Inventory - Periodic LIFO 1 Cost Ending per unit Inventory Cost of Goods Sold - Penodic LIFO Number of units Cost per unit Cost of Goods Sold in ending inventory Beginning Inventory 2.400 $5.50 $ 13.200 $5.50 $ $5.60 Purchases August 0.600 $5.70 54.720 $570 August 18 7,200 $5.80 41,700 $5.00 August 28 4,000 $6.00 20.000 $5.00 Total 24,000 S 138.480 $5.70 $5.00 Q $8.00 S 0 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 8 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 statem 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 Number of sold Average Cost per Unit Cost of Goods Sold units in ending inventory Average Cost per unit Ending Inventory Beginning Inventory 2,400 $5.50 $ 13,200 Purchases August 8 0.000 5 5.70 54.720 August 18 7.200 $5.00 41,760 August 28 4,800 $ 6.00 28,300 Total 24.000 S 138,480