Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of August 2016 is available:

Aug.1 Inventory on hand 2,000 units, cost $6.10 each .

Aug. 8. Purchased 10,000 units for $5.50 each

Aug. 14. Sold 8,000 units for $12 each

Aug. 18. Purchased 6,000 units for $5 each

Aug. 25. Sold 7,000 units for $11 each

Aug. 31. Inventory on hand 3,000 units

Required:

Determine the inventory balance Altira would report in its August 31, 2016, balance sheet and the cost of goods sold it would report in its August 2016 income statement using each of the following cost flow methods: (Round "Average Cost per Unit" to 2 decimal places.)

FIFO: 1. Cost of goods avaialbe for Sale (Begining and purchase #of unit, Cost per unit, Cost of Goods Avaiable for Sale)

2. Cost of Goods Sold-Periodic FIFO (#of units sod, cost per unit, Cost of Goods Sold with date)

3. Ending Iventory - Periodic FIFO (#of units in ending inventory, Cost per unit, Ending Inventory)

LIFO 1. Cost of goods avaialbe for Sale (Begining and purchase #of unit, Cost per unit, Cost of Goods Avaiable for Sale)

2. Cost of Goods Sold-Periodic LIFO (#of units sod, cost per unit, Cost of Goods Sold with date)

3. Ending Iventory - Periodic LIFO (#of units in ending inventory, Cost per unit, Ending Inventory)

Average Cost

1. Cost of goods avaialbe for Sale (Begining and purchase #of unit, Average Cost per unit, Cost of Goods Avaiable for Sale)

2. Cost of Goods Sold- (#of units sod, Average cost per unit, Cost of Goods Sold with date)

3. Ending Iventory (#of units in ending inventory, Average Cost per unit, Ending Inventory)