Chapter 08 - Homework Seved 10 5 points Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-3,200 units; cost $6.50 each. 8 Purchased 16,000 units for $6.70 each. 14 Sold 12,000 units for $13.20 each. 18 Purchased 9,500 units for $6.80 each. 25 Sold 11,800 units for $12.20 each. 28 Purchased 5,200 units for $5.00 each. 31 Inventory on hand-9,100 units. eBook Hint 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. Print Complete this question by entering your answers in the tabs below. References FIFO Mc Graw Hill LIFO Average Cost Help Save & Exit Submit Check my work Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO FIFO # of unite for Sale Cost Cost of Goods Available #of units sold per unit Cost per unit 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 FIFO method. (Round "Cost per Unit" to 2 decimal places.) Ending Inventory - Periodic FIFO Cost Ending per unit Inventory Cost of Goods Sold # of unite in ending inventory Beginning Inventory 3,200 $ 6.50 $ 20,800 S 6.50 $ 6.50 Purchases: August 8 16.000 $ 6.70 107,200 S 6.70 August 18 9,600 $6.80 65,280 S 6.80 August 28 5,200 $ 5.80 30,160 $ 6.70 $ 6.80 $ 5.80 Total 34,000 $ 223,440 < FIFO LIFO > < Prev 5 of 6 Next > Chapter 08 - Homework Served 10 5 points Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory an hand-3,200 units; cost $6.50 each. 8 Purchased 16,000 units for $6.70 each. 14 Sold 12,800 units for $13.20 each. 18 Purchased 9,600 units for $6.80 each. 25 Sold 11,800 units for $12.20 each. 28 Purchased 5,200 units for $5.00 each. 31 Inventory on hand-9,402 units. eBook Hint 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. Print Complete this question by entering your answers in the tabs below. References FIFO Mc Graw Hill 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.) Cost of Goods Available for Sale Ending Inventory - Periodic LIFO Cost of Goods Sold - Periodic LIFO LIFO # of units Cost per Cost of Goods Available for Sale # of units sold unit Cost per unit Cost of Goods Sold # of units in ending inventory 3,200 $6.50 $ 20,800 $ 6.50 Cost Ending per unit Inventory $ 6.50 Beginning Inventory Purchases: August 8 August 18 August 28 Total 16,000 $6.70 9,600 $6.80 107,200 5,200 $5.80 65,280 30,160 34,000 $ 223,440 < FIFO $6.70 $6.80 $ 5.80 Average Cost > < Prev 5 of 6 Next > S 6.70 S 6.80 Help Save & Exit Submit Check my work Chapter 08 - Homework 5 Saved Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: 10 points Aug.1 Inventory on hand-3,200 units; cost $6.50 each. 8 Purchased 16,000 units for $6.70 each. 14 Sold 12,800 units for $13.20 each. 18 Purchased 9,600 units for $6.80 each. 25 Sold 11,800 units for $12.20 each. 28 Purchased 5,200 units for $5.80 each. 31 Inventory on hand-9,400 units. cBook Hint 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. Print Complete this question by entering your answers in the tabs below. References FIFO Mc Graw Hill LIFO Average Cost Help Save & Exit Submit 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 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 Average Coat # of units Unit Cost Cost of Goods Available for Sale # of units sold Average Cost per Unit Cost of Goods # of units in ending Sold inventory Average Cost per unit Ending Inventory Beginning Inventory 3,200 $ 6.50 $ 20,800 Purchases: August 8 16,000 5 6.70 107,200 August 18 9.600 5 6.80 65,280 August 28 5,200 $ 5.80 30,160 Total 34.000 $ 223,440 < Prev 5 of 6 Next > Check my work