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\mathrm{.}50$ each.

August $8$ Purchased $9,600$ units for $$5\mathrm{.}70$ each.

August $14$ Sold $7,200$ units for $$12\mathrm{.}20$ each.

August $18$ Purchased $7,200$ units for $$5\mathrm{.}80$ each.

August $25$ Sold $8,400$ units for $$11\mathrm{.}20$ each.

August $28$ Purchased $4,800$ units for $$6\mathrm{.}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.methods.

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