Aug.1 Inventory on hand-2,800 units cost $6.10 cach. # Purchased 14.000 units for $6.30 each 14 Sold 11, 200 units for $12.80 each. 18 Purchased 8.400 units for 36.40 each. 25 Sold 10,200 units for $11.80 each 28 Purchased 4.800 units for $5.00 each 31 Inventory on hand-, 600 units. Required: Using calculations based on a periodic Inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using each of the following cost flow methods. Answer is not complete 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, 2021, balance sheet and the cost of goods sold it would report in its August 2021 Income statement method. (Round "Cost per unit to 2 decimal places.) Coat of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Imentary - Periodic FIFO FIFO Cost Cost #of units Cost of Goods of units per Cost of Cost # of units in ending per Ending sold Available for Sale per unit unit Goods Sold Inventory unt Inventory $ Beginning Inventory 2,800 6.10 $ 17,080 2,800 6.10 17.080 0 6.10 0 Purchases $ August 8 $ 14,000 6.30 88,200 14,000 0 88.200 630 6.30 August 18 $ $ 8,400 6.40 83,760 6.40 6.40 $ August 28 4.800 $ 5.80 27,840 o 5.00 Total 30,000 $ 186,880 16,800 $ 105,280 0 $ 0 Aag.1 Inventory on hand-2,000 units cost 56.10 each. Purchased 14,000 units for $6.30 wach. 14 Sold 11,200 units for $12.30 each. 18 Purchased 8,400 units for $6.40 wach. 25 Sold 10,200 units for $11.00 each 28 Purchased 4,800 units for $5.00 each. 31 Inventory on hand-8.600 unite. Required: Using calculations based on a periodic inventory system, determine the inventory balance Aitra would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using each of the following cost flow methods Answer is not complete. 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, 2021, balance sheet and the cost of goods sold it would report in its August 2021 Income statement using the Ave cost method (Round "Average Cost per Unit" to 2 decimal places.) Cast of Goods Available for Sale Cost of Unit Goode of units Cout Available for Sale 2.800 $6.10 $ 17.080 Cost al Goods Bold - Average Cost Average of units sold Cost of Goods Coat per Sold Average cost Ending Inventory Average cost of units in Average ending Cost Ending Inventory Inventory per un Beginning inventory Purchase August August 18 August 28 Total 14,000 8.400 4.000 30,000 16.30 $6.40 55.80 A 200 53.700 27840 100.000 Aug. 1 Inventory on hand-2,500 units cost $6.10 each. & Purchased 14,000 units for $5.30 each. 14 Sold 11, 200 units for $12.80 cach. 18 Purchased 8. 400 units for $6.40 each. 25 Sold 10,200 units for $11.00 each. 2 Purehased 4,800 units for $5.80 each. 31 Inventory on hand-8.600 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using each of the following cost flow methods. Answer is not complete. 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, 2021. balance sheet and the cost of goods sold it would report in its August 2021 income statement using the LIFO method. (Round "Cost per unit to 2 decimal places.) LIFO Cost of Goods Available for Sale Cost # af units per Cost of Goods Available for sale unit 2,800 6.10 5 17.080 Cost of Goods Sold - Periodic UFO Cost #of units sold Cost of per Goods Sold unit Ending Inventory - Periodic LIFO #of units in Cost Ending per ending inventory unit Inventory 6.10 0 6.10 14,000 S 6.30 88,200 10,200 6.30 64 260 6.30 Beginning inventory Purchases August August 18 August 28 Total 8,400 0 11.200 53,760 71.680 5.40 6.40 6.40 4,800 27.840 5.80 5.80 21.400 30,000 $ 0 186,880 135.000 0 $
