Altira Corporation provides the following information related to its Inventory during the month of August 2024: August 1 Inventory on hand-4,400 units; cost $6.50 each. August 8 Purchased 17,600 units for $6.70 each. August 14 Sold 13,200 units for $13.20 each. August 18 Purchased 13,200 units for $6.80 each. August 25 Sold 15,400 units for $12.20 each. August 28 Purchased 8,800 units for $7.00 each. August 31 Inventory on hand-15,400 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. 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 usi method. Cost of Goods Available for Sale Cost of Goods Sold-Periodic FIFO Ending Inventory-Periodic FIFO FIFO Number of Cost units per Cost of Goods Available for Sale Number of units sold unit Cost per unit Cost Cost of Goods Sold Number of units in ending inventory per unit Ending Inventory Beginning Inventory 4,400 650 $ 28,600 4,400 28,600 0 650 650 Purchases S August 8 17,000 117,920 17,000 117,020 00 0 6.70 6.70 6.70 August 161 13,200 89,700 13,200 89,760 13,200 680 6.80 680 89,700 August 20 8.800 01,000 8.800 61,000 8,800 61,000 700 7.00 7.00 Total 44,000 297,880 44,000 S 297,880 22,000 $151,360 CFIFO LIFO > 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 usi LIFO method. Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory-Periodic LIFO LIEQ Cost Number of Cost Cost Number Cost of Goods Number of per of units unit Available for Sale per units sold Cost of Goods Sold units in unit ending per unit Ending Inventory Inventory $ Beginning Inventory 4,400 $ 28,600 4,400 S 28,600 5 650 6.50 6.50 Purchases August 8 $ $ 17,000 117,920 670 6.70 3 August 18 13,200 09,760 6.80 6.80 August 28 8,800 61,600 7.00 $ 7:00 Total 44,000 $ 297,880 4,400 28,600 6.70 $ 6 80 7.00 0 $ 0 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 usi cost method. Note: Round "Average Cost per Unit" to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Average Cost Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost per Unit Cost of Goods Sold Number of units in ending Inventory Average Cost per unit Ending Inventory - Average Cost Ending Inventory Beginning Inventory 4,400 $6.50 S 28,600 Purchases August 8 17,600 $6.70 117 920 August 18 13,200 $6.80 89,760 August 28 8,800 $7.00 61,600 Total 44,000 297,880 44,000 0