Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-5,200 units; cost $6.90 each. August 8 Purchased 20,800 units for $7.10 each. August 14 Sold 15,600 units for $13.60 each. August 18 Purchased 15,600 units for $7.20 each. August 25 Sold 18,200 units for $12.60 each. August 28 Purchased 10,400 units for $7.40 each. August 31 Inventory on hand-18,200 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 method.

Altira Corporation provides the following information related to its inventory during the month of August 2024 : August 1 Inventory on hand 5,200 units; cost 56.90 each. August 8 Purchased 20,80e units for $7,10 each. August 14 Sold 15,603 units for $13.60 each. August 18 Purchased 15,600 units for $7.20 each. August 25 Sold 18,280 units for $12.60 each. August 28 Purchased 18,400 units for $7,40 each. August 31 Inventory on hand-18,200 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. 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 method