Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of August 2018 is available: Aug.1 Inventory on hand3,000 units; cost $6.50 each. 8 Purchased 12,000 units for $5.70 each. 14 Sold 9,000 units for $12.20 each. 18 Purchased 7,000 units for $5.20 each. 25 Sold 8,000 units for $11.20 each. 31 Inventory on hand5,000 units. Required: Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using each of the following cost flow methods:

FIFO LIFO Average Cost ermine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would ement using the FIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Cost of Goods Sold - Periodic Ending Inventory - Periodic FIFO Sale Cost per FIFO Cost sold per unitoods 6.50 Cost of Goods FIFO | # of units #of units Cost of #of units Cost Ending per unit Inventor 3,000 s 6.50 s 19,50 2,000$5.7068,400 12,000 5.70 68,400 12,000 5.70 68,40 Available unit inventory for Sale ning Inventory 3,000 $6.019,5003,000 ases gust 8 gust 18 19,500 7,000 $5.2036,400 2,000$5.20 22,000 10,400 $ 98,300 7,000 5.20 22,000 36,40 $ 124,300 17,000 $ 124,30