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 hand-2,000 units; cost $6.10 each. 8 Purchased 10,000 units for $5.50 each. 14 Sold 8,000 units for $12.00 each. 18 Purchased 6,000 units for $5.00 each. 25 Sold 7,000 units for $11.00 each. 31 Inventory on hand-3,000 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. 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, 2018, balance sheet and the cost of goods sold it would report in its Aug statement using Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold -Average Cost Ending Inventory - Average Cost Goods Sold | invento | Cost of Goods | # of units | Average Cost per # of units in ending Average Cost per unit Average Cost Unit Cost Ending Inventory Cost of # of units Available for Sale sold Unit Beginning Inventory Purchases August 8 August 18 Total LIFO 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, 2018, balance sheet and the cost of goods sold it would report in its Augu statement using the FIFO 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 Cost of Goods | # of units # of units | Cost per | Ending unit FIFO Cost per Available for sold Cost of in ending Cost of Cost per unit # of units unit Goods Sold inventory Inventory Sale Beginning Inventory Purchases August 8 August 18 Total FIFO LIFO 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, 2018, balance sheet and the cost of goods sold it would report in its Augu statement using LIFO method. Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold -Periodic LIFO Ending Inventory Periodic LIFO # of units Cost of Goods | # of units Available for LIFO Cost per unit Cost per Cost per unit Ending Inventory p l Cost of # of units Goods Sold in ending inventor sold unit Sale Beginning Inventory Purchases August 8 August 18 Total FIFC Average Cost>