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 hand10,500 units; cost $8.80 each.

8 Purchased 30,000 units for $7.50 each.

14 Sold 21,000 units for $14.00 each.

18 Purchased 16,000 units for $7.00 each.

25 Sold 20,000 units for $13.00 each.

31 Inventory on hand15,500 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.)