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Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-3, 400 units; cost $7.50
Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-3, 400 units; cost $7.50 each. 8 Purchased 17,000 units for $6.90 each. 14 Sold 13,600 units for $13.40 each. 18 Purchased 10,200 units for $6.40 each. 25 Sold 12,600 units for $12.40 each. 28 Purchased 5,400 units for $5.80 each. 31 Inventory on hand-9,800 units. Using calculations based on a perpetual 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 last-in, first-out (LIFO). Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Ba Perpetual LIFO: Cost Cost # # of units per unit Cost of Goods Available for Sale # of units sold Cost Cost of per unit Goods Sold # of units sold per unit Cost of Total Cost of Goods Sold Goods Sold # of units in ending inventory Cost pe unit Beg. Inventory 3,400 $ 7.50 $ 25,500 0 $ 7.50 $ ol $7.50 | $ 0 25,500 S 7.1 Purchases: August 8 17,000 6.90 117,300 13,600 6.90 93,840 6.90 16,560 6,900 6. 2,400 10.2001 August 18 10,200 6.40 65,280 0 6.40 0 6.40 65,280 0 6. August 28 5,400 5.8 31,320 0 5.80 0 0 5.80 31,320 5. Total 36,000 $ 239,400 13,600 $ 93,840 12,600 $ 81,840 $ 175,680 63,720
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