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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-3,288 units; cost $7.38
Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug. 1 Inventory on hand-3,288 units; cost $7.38 each. 8 Purchased 16,000 units for $6.70 each. 14 Sold 12,8ee units for $13.20 each 18 Purchased 9,600 units for $6.2e each. 25 Sold 11,820 units for $12.20 each. 28 Purchased 5,200 units for $5.99 each. 31 Inventory on hand-9,480 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 Balance Perpetual LIFO: Cost per # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost Cost of per unit Goods Sold # of units sold Cost per unit Cost of Goods Sold Total Cost of Goods Sold # of units in ending inventory unit Ending Inventory 3,200 $ 7.30 $ 23.360 $ 7.30 $ 7.30 $ 7.30 Beg. Inventory Purchases: August 8 August 18 August 28 Total 16,000 9.600 5,200 34,000 6.70 6.20 5.8 107,200 59,520 30,160 220.240 6.70 6.20 5.80 6.70 6.20 5.80 6.70 6.20 5.80 $
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