Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021:

Aug.1	Inventory on hand2,900 units; cost $6.20 each.
8	Purchased 14,500 units for $6.40 each.
14	Sold 11,600 units for $12.90 each.
18	Purchased 8,700 units for $6.50 each.
25	Sold 10,600 units for $11.90 each.
28	Purchased 4,900 units for $5.80 each.
31	Inventory on hand8,800 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.)

FIFO	Cost of Goods Available for Sale			Cost of Goods Sold - Periodic FIFO			Ending Inventory - Periodic FIFO
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beginning Inventory	2,900	$6.20	$17,980	2,900	$6.20	$17,980	0	$6.20	$0
Purchases:
August 8	14,500	$6.40	92,800	14,500	$6.40	92,800		$6.40	0
August 18	8,700	$6.50	56,550		$6.50			$6.50
August 28	4,900	$5.80	28,420					$5.80
Total	31,000		$195,750	17,400		$110,780	0		$0