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

August $1$ Imventory on hand$-4,48$e units; cost $$6\mathrm{.}50$ each.

August $8$ Purchased $17,6e0$ units for $$6\mathrm{.}70$ each.

August $14$ Sold $13,200$ units for $$13,20$ each.

August $18$ Purchased $13,200$ units for $$6\mathrm{.}80$ each.

Auguet $25$ sold $15,$ tee units for $$12,20$ each.

August $28$ Purchased $8,890$ units for $$7\mathrm{.}60$ 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.

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$FIFO UFO Average cost$]]$

method.

FIFO