Altira Corporation provides the following information related to its inventory during the month of August $2024$: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.

$\backslash$table$[[$FIFO$,$Average Cost,,,,,,,$],[\backslash$table$[[$Determine the inventory balance Altira would report in its$],[$method$.]]],[$FIFO$,$Cost of Goods Available for Sale,Cost of Goods Sold $-$ Periodic FIFO,Ending Inventory $-$ Periodic FIFO$],[\backslash$table$[[$Number of$],[$units$]],\backslash$table$[[$Cost$],[$per unit$]],\backslash$table$[[$Cost of Goods$],[$Available for Sale$]],\backslash$table$[[$Number of units$],[$sold$]],\backslash$table$[[$Cost$],[$per unit$]],\backslash$table$[[$Cost of Goods$],[$Sold$]],\backslash$table$[[$Number of units in$],[$ending inventory$]],\backslash$table$[[$Cost$],[$per unit$]],\backslash$table$[[$Ending$],[$Inventory$]]],[$Beginning Inventory,$5,600,$$$7\mathrm{.}10,39,760,,$$$\mathrm{.}7\mathrm{.}10,,,$$$7\mathrm{.}10,],[$Purchases:$],[$August $8,22,400,$$$7\mathrm{.}30,163,520,,$$$7\mathrm{.}30,,,$$$7\mathrm{.}30,],[$August $18,16,800,$$$7\mathrm{.}40,124,320,,$$$7\mathrm{.}40,,,$$$7\mathrm{.}40,],[$August $28,11,200,$$$7\mathrm{.}60,85,120,,$$$7\mathrm{.}60,,,$$$7\mathrm{.}60,],[$Total$,56,000,,412,720,,,,,,]]$