Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021 Aug. 1 Inventory on hand-2,000 units; cost $5.30 each 8 Purchased 8,000 units for $5.50 each 14 Sold 6,000 units for $12.00 cach. 18 Purchased 6,000 units for $5.60 each 25 Sold 7.000 units for $11.00 each 28 Purchased 4,000 units for 55.50 each 31 Inventory on hand-7,000 units Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31, 2021 balance sheet and the cost of goods sold it would report in its August 2021 income statement using each of the following cost flow methods pre nyn y muy your answers in the tabs below FIFO LIFO Average cost Cost per Cont per Determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 Inca method. (Round cost per unit to 2 decimal places) Cost of Goods Available for Sale Cost of Goods Sold Periodic FIFO Ending Inventory Periodic HEO EIRO Cost of Goods Cost per # of units of units Available for Cost of Goods Vol units in Ending unit Sale sold unit Sold ending Inventory un Inventory Beginning Inventory 2000$ 5.30 $ 10.600 5 530 5 530 5 Purchases 8.000 $ August 8 5.50 44.000 $ 550 550 OS 6.000 $ 5 60 $ 33 600 5 60 August 18 5 5 60 4.000 5 580 August 28 23 200 5 80 os 5 $ 0 5 20.000 111 400 Total 5 580 LIFO > 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 con statement using the LIFO method. (Round cost per unit to 2 decimal places) Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory Periodic IFO LIEO Cost of Goods Cost per of units #of units of units Cost per Available for Cost of Cost per unit Ending sold In ending unit Goods Sold Sale init Inventory Inventory Beginning Inventory 2,000 $5,30 $ 10.600 05 530 5 0 2000 5 530 $ 10.600 Purchases August 8 8.000 $ 550 44,000 S 5.50 5 550 33,600 33.600 6 000 $ 5.60 6.000 55.60 560 0 $ 0 August 18 23 200 4.000 $ 580 23.200 4000 S 580 August 28 580 os $ $ Total 2.000 20.000 111 400 10.000 10.600 5 56.800