- Chapters 7 & 8 Saved Help Save & Exit Su Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug. 1 Inventory on hand-2, 100 units; cost $5.40 each. 8 Purchased 10,500 units for $5.60 each. 14 Sold 8,400 units for $12.10 each. 18 Purchased 6,300 units for $5.70 each. 25 Sold 7,400 units for $11.10 each. 28 Purchased 4,100 units for $5.80 each. 31 Inventory on hand-7,200 units. 2:44 Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in in 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. 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 method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold. Periodic FIFO FIFO Cost Cost of Goods # of units of units sold ET Cost Cost of Goods #ofun Complete this question by entering your answers in the tabs below. FIFO LIFO Average Cost 22 Cost Determine the Inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it wou method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Periode FIFO Ending FIFO Cost # of units Cost of Goods Cost of Goods per unit # of units in # of units sold Available for Sale per unit Sold Invente eginning Inventory 2,100 $ 5.40 $ 11,340 $ 5.40 urchases August 8 10,500 $ 5.60 58,800 $ 5.60 August 18 6,300 $ 5.70 35.910 $ 5.70 August 28 4,100 $ 5.80 23,780 otal 23,000 $ 129,830 0 LIFO > Complete this question by entering your answers in the tabs below. FIFO LIFO Average Cost 12:08 Determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it wou LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold Porlodic LIFO Ending In LIFO Cost # of units Cost of Goods # of units per Cost # of units sold Cost of Goods Available for Sale unit per unit Sold ending Inventory 3eginning Inventory 2,100 $ 5.40 $ 11,340 $ 5.40 $ 0 Purchases: August 8 10,500 $ 5.60 58,800 $ 5.60 August 18 6,300 $ 5.70 35,910 $ 5.70 August 28 4,100 $ 5.00 23,780 $ 5.80 Total 23,000 $ 129,830 $ 0 0