Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug. 1 Inventory on hand-2, 100 units; cost $5.40 each. 8 Purchased 10,500 units for $5.60 each. 14 Sold 8,400 units for $12.10 each. 18 Purchased 6,300 units for $5.70 each. 25 Sold 7,400 units for $11.10 each. 28 Purchased 4, 100 units for $5.80 each. 31 Inventory on hand-7,200 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 units Cost of Goods per unit Available for Sale Cost of Goods Sold - Periodic FIFO Cost Cost of Goods # of units sold per Ending Inventory - Periodic FIFO Cost # of units in ending per Ending inventory unit Inventory $ 5.40 S unit Sold Beginning Inventory 2,100 S 5.40 S 1,340 8,400 $ 5.40 $ 45,360 Purchases: 8,400 August 8 August 18 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 August 28 Total 10,500 $ 11,340 8,400 $ 45,360 FIFO LIFO >