Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021:
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| Aug.1 | Inventory on hand3,300 units; cost $6.60 each. |
| 8 | Purchased 16,500 units for $6.80 each. |
| 14 | Sold 13,200 units for $13.30 each. |
| 18 | Purchased 9,900 units for $6.90 each. |
| 25 | Sold 12,200 units for $12.30 each. |
| 28 | Purchased 5,300 units for $5.80 each. |
| 31 | Inventory on hand9,600 units. |
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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.
*Note: Missing some answers. Please help.
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 method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO # of units Cost Cost of Goods Available per unit for Sale Cost Cost of Goods # of units sold per unit Sold 3,300 $ 6.60 s 21.780 # of units in ending inventory Cost Ending per unit Inventory 3,300 $ 6.60 s 21,780 0 $ 6.60 S 0 112,200 0 Beginning Inventory Purchases: August 8 August 18 August 28 Total 38,640 16,500 S 6.80 9,900 S 6.90 5,300 $ 5.80 35.000 112,200 68,310 30,740 233,030 16,500 S 6.80 5,600 $ 6.90 0 25,400 0 S 6.80 4,300 $ 6.90 5,300 $ 5.80 9,600 29,670 30,740 60,410 S S 172,620
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 th LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Sold - Periodic LIFO LIFO Cost of Goods Available for Sale Cost # of units per Cost of Goods Available for Sale unit 3,300 $ 6.60 S 21,780 # of units sold Cost per unit Cost of Goods Sold Ending Inventory - Periodic LIFO # of units in Cost per Ending ending inventory unit Inventory 3,300 $ 6.60 $ 21,780 3,300 $ 6.60 S 21,780 112.200 112.200 42,840 Beginning Inventory Purchases: August 8 August 18 August 28 Total 6,300 $ 6.80 0 S 6.90 0 16,500 S 6.80 9,900 $ 6.90 5,300 $ 5.80 35,000 68,310 30,740 233,030 16,500 S 6.80 9,900 $ 6.90 5,300 $ 5.80 35,000 68,310 30,740 0 S S 202,290 9,600 S 64,620 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 cost method. (Round "Average Cost per Unit" to 2 decimal places.) Average Cost Cost of Goods Available for Sale Unit Cost of Goods # of units Available for Cost Sale 3.300 $ 6.60 s 21,780 Cost of Goods Sold - Average Cost # of units sold Average Cost Cost of Goods per Unit Sold Ending Inventory - Average Cost # of units in Average Ending Cost per ending Inventory inventory unit Beginning Inventory Purchases: August 8 August 18 August 28 Total 16,500 S 6.80 9,900 $ 6.90 5,300 S 5.80 35,000 112,200 68,310 30,740 S 233,030 25,400 S 6.66S 169.164 9,600 S 0 LIFO Average Cost
