Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of August 2018 is available: 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. 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 the FIFO method. (Round "Cost per Unit" to 2 decimal places.)