Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021 Aug.1 Inventory on hand-2,500 units cost 56.10 each Purchased 14.00 units for $6.30 wach 34 Sold 11,200 units for $12.cach 1 Purchased 400 units for $6.40 cach 25 Sold 10.200 units for $11.30 each 28 Purchased 4.800 nits for 55.00 each 31 Tetory on hand units Required: Using calculations based on a periodic inventory system, determine the inventory balance Aura would reportinis 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 "Cont per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold. Periode FIFO Ending Inventory Periodic FIFO FO Cost Cost of Goods Cost of units old of units Cost of Goods Coat of unitsin ending Ending Available for Sale Sold inventory per unit Inventory Beginning inventory 2.800 56.10 5 17080 56.10 5 6 105 0 Purchase August 14.000 56.30 88200 56.30 56.30 per un perunt Complete this question by entering your answers in the tabs below. FITO UFO Average Cost Determine the inventory balance Altra 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.) Cost of Goods of unitsin ending Inventory Cool Cost of Goods Available for Sale 2.000 5610S 17.000 Beginning inventory 3 6.10 56.10 O 16000 5630 8.400 5640 4000 550 0,200 53.760 Augu August 18 August 20 Tot 5630 5640 5640 $ 580 5 0 0 50.000 $ 136.000 FO LIFO > Complete this question by entering your answers in the tabs below. FIFO UFO 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 LIFO method. (Round 'Cost per Unit" to 2 decimal places.) Cost of Goods Soldado Ending Inventory-Parlic LITO Cost of Goods Cost W of units in per Cost of Goods of units sold Available for Sale Ending Sold ending per unit Inventory Inventory Beginning inventory 2.800 55105 17.080 5 6 10 2.800 56.10 5 17,080 Purchases August B 14,000 56.30 88.200 56.30 56.30 August 18 8,400 56.40 53760 8,400 S 640 53.760 56.00 0 August 28 4.800 5580 27 340 4.000 5580 27.840 Total 30,000 5 186.00 13,200 S 53.760 2800 $ 17 000 (FIFO Average Cost > 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 "Average Cost per Unit" to 2 decimal places.) Cost of Goods Cost Available for Salo 2.800 56.10 S 17080 #of units sold Average Cont Cost of Goods Beginning Inventory Purchases August August 18 August 28 14.000 5630 8.400 6.00 43005580 M000 88.200 53.760 27.340 1860 $ $ 0
