Altira Corporation provides the following information related to its inventory during the month of August 2024 August 1 Inventory on hand-2,800 units; cost $5.70 each. August & Purchased 11,200 units for $5.90 each. August 14 Sold 8,400 units for $12.40 each. August 18 Purchased 8,400 units for $6.00 each. August 25 Sold 9,800 units for $11.40 each. August 28 Purchased 5,600 units for $6.20 each. August 31 Inventory on hand-9,800 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 using the FIFO 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 Ending per unit Inventory Beginning Inventory 2,800 $5.70 $ 15,960 $ 5.70 $5.70 $ Purchases: August 81 11,200 $5.00 66,080 $ 5.90 August 18 8,400 $6.00 50,400 $ 6.00 August 28 5,600 $6.20 34,720 $6.20 $5.90 $ 6.00 $6.20 Total 28,000 $ 167,160 FIFO LIFO > 0