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 hand10,500 units; cost $8.40 each.
8	Purchased 29,000 units for $7.40 each.
14	Sold 20,500 units for $13.90 each.
18	Purchased 15,500 units for $6.90 each.
25	Sold 19,500 units for $12.90 each.
31	Inventory on hand15,000 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

statement using the FIFO method. (Round "Cost per Unit" to 2 decimal places.)

FIFO	Cost of Goods Available for Sale			Cost of Goods Sold - Periodic FIFO			Ending Inventory - Periodic FIFO
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beginning Inventory	10,500	$8.40	$88,200	10,500	$8.40	$88,200		$8.40	$0
Purchases:
August 8	29,000	$7.40	214,600	29,000	$7.40	214,600		$7.40	0
August 18	15,500	$6.90	106,950	500	$6.90	3,450	15,000	$6.90	103,500
Total	55,000		$409,750	40,000		$306,250	15,000		$103,500

LIFO

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 the LIFO method. (Round "Cost per Unit" to 2 decimal places.)

LIFO	Cost of Goods Available for Sale			Cost of Goods Sold - Periodic LIFO			Ending Inventory - Periodic LIFO
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beginning Inventory	10,500	$8.40	$88,200		$8.40	$0		$8.40
Purchases:
August 8	29,000	$7.40	214,600	24,500	$7.40	181,300	4,500	$7.40	33,300
August 18	15,500	$6.90	106,950	15,500	$6.90	106,950		$6.90	0
Total	55,000		$409,750	40,000		$288,250	4,500		$33,300

Average Cost

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 the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.)

Average Cost	Cost of Goods Available for Sale			Cost of Goods Sold - Average Cost			Ending Inventory - Average Cost
	# of units	Unit Cost	Cost of Goods Available for Sale	# of units sold	Average Cost per Unit	Cost of Goods Sold	# of units in ending inventory	Average Cost per unit	Ending Inventory
Beginning Inventory	10,500	$8.40	$88,200
Purchases:
August 8	29,000	$7.40	214,600
August 18	15,500	$6.90	106,950
Total	55,000		$409,750	40,000	$7.45	$298,000	15,000	$7.45	$111,750