Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand2,200 units; cost $5.50 each. 8 Purchased 11,000 units for $5.70 each. 14 Sold 8,800 units for $12.20 each. 18 Purchased 6,600 units for $5.80 each. 25 Sold 7,800 units for $11.20 each. 28 Purchased 4,200 units for $5.80 each. 31 Inventory on hand-7,400 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 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 statemen method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost Cost Cost # of units Cost of Goods Available for Sale # of units sold Cost of Goods Sold # of units in ending inventory Ending Inventory per unit per unit per unit Beginning Inventory 2,200 $ 5.50 $ 12,100: 2,200 $ 5.50 $ 12,100 $ 5.50 $ 0 Purchases: $ 5.70 $ 5.70 0 August 8 August 18 August 28 $ 5.80 $ 5.80 11,000 $ 5.70 6,600 $ 5.80 4,200 $ 5.80 24,000 62,700 38,280 24,360 137,440 $ 5.80 Total $ 2,200 $ 12,100 O $ 0 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 LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO LIFO Cost # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost of Goods Sold Ending Inventory - Periodic LIFO # of units in Cost Ending ending per unit Inventory inventory 2,200 $ 5.50 12,100 per unit Beginning Inventory 2,200 $ 5.50 $ 12,100 $ 5.50 $ 0 Purchases: $ 5.70 $ 5.80 0 August 8 August 18 August 28 Total 11,000 $ 5.70 6,600 $ 5.80 4,200 $ 5.80 24,000 62,700 38,280 24,360 137,440 $ 5.70 6,600 $ 5.80 4,200 $ 5.80 10,800 38,280 24,360 38,280 $ $ 2,200 $ 12,100 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 cost method. (Round "Average Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Average Cost Unit Cost # of units Cost of Goods Available for Sale 12,100 # of units sold Ending Inventory - Average Cost # of units in Average Ending ending Cost per Inventory inventory unit Average Cost per Unit Cost of Goods Sold 2,200 $ 5.50 Beginning Inventory Purchases: 62,700 August 8 August 18 August 28 11,000 $ 5.70 6,600 $ 5.80 4,200 $ 5.80 24,000 38,280 24,360 137,440 Total $ $ 0 $ 0