Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-2,300 units; cost $5.60 each. 8 Purchased 11,500 units for $5.80 each. 14 Sold 9, 200 units for $12.30 each. 18 Purchased 6,900 units for $5.90 each. 25 Sold 8, 200 units for $11.30 each. 28 Purchased 4,300 units for $5.80 each. 31 Inventory on hand-7,600 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 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, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale FIFO Ending Inventory - Periodic FIFO Cost # of units in ending Ending per inventory Inventory # of units Cost per unit Cost of Goods Sold - Periodic FIFO Cost # of units sold Cost of Goods per Sold unit $ 5.60 Cost of Goods Available for Sale 2,300 $ 5.60 $ 12,880 $ 5.60 Beginning Inventory Purchases: August 8 August 18 August 28 Total 11,500 6,900 4,300 25,000 $ 5.80 $ 5.90 $ 5.80 $ 5.80 $ 5.90 66,700 40,710 24,940 145,230] $ 5.80 $ 5.90 $ 5.80 $ 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, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Cost of Goods Sold - Average Cost Average Cost Cost of Goods Available for Sale Cost of Goods Unit # of units Available for Cost Sale 2,300 $ 5.60 $ 12,880 Average Cost per Unit # of units sold Ending Inventory - Average Cost # of units in Average Ending ending Cost per Inventory inventory unit Cost of Goods Sold Beginning Inventory Purchases: August 8 August 18 August 28 Total 11,500 6,900 4,300 $ 5.80 $ 5.90 $ 5.80 | $ 66,700 40,710 24,940 145,230 25,000