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. Purchased 8,000 units for $5.50 each. 14 Sold 6.000 units for $12.00 each. 18 Purchased 6,000 units for 35.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 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 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 Average cost method. (Round cost per unit to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory Average Cout Average Cost Cost of Goods Average W of units Unit of units Average of units Cost of Available for Cost per Cost Ending Cost per in ending Goods Sold sold Unit Inventory unit Inventory Beginning inventory 2.000 5 5.30 $ 10.000 Purchases August 8.000 $ 5.50 44,000 August 18 6,000 1,00 33,000 August 28 4,000 $5.80 23,200 Total 20,000 $ 111.400 0 0