Check my work 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.90 each. 31 Inventory on hand-7,000 units. Part 1 of 2 Exercise 8-14 (Static) Part 1 points Required: 1. Using calculations based on a perpetual 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 the FIFO method. | 01:39:16 cBook Cost of Goods Available for Sale Cost of Goods Sold - August 14 | Cost of Goods Sold - August 25 Inventory Balance Hint Perpetual FIFO: # of units # of units Cost of Cost per Goods unit Available for Sale $ 5.30 S 10,600 Cost per unit Cost of Goods Sold #of units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory References Beg. Inventory 2,000 2,000 $ 5.30 $ 10,600 $ 5.30 S $ 5.30 S Purchases: 4,000 August 8 August 18 August 28 0.00 5.60 0.00 5.60 6,000 4,000 12,000 0.00 5.60 5.80 5.60 5.80 33,600 23,200 67,400 5.80 5.80 on Tolal S 6,000 $ 10,600 S0 S 10.6000 S 0 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Exercise 8-13 (Static) Inventory cost flow methods; periodic system (L08-1, 8-4) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: points 8 01:40:48 Aug.1 Inventory on hand2,000 units; cost $5.30 each. 8Purchased 8,000 units tor $5.50 each. 14 Sold 6,000 units for $12.00 cach. la Purchased 6.000 Lts for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 cach. 31 Inventory on hand-7,000 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 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Answer is not complete. Complete this question by entering your answers in the tabs below. points FIFO LIFO Average Cost 8 01:40:35 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.) Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost of Goods Available for Sale Cost of Cost Goods # of units per unit Available for # of units sald Cost per unit Cost of Goods Sold # of units in ending inventory 2,000 X Cost per unit Ending Inventory Sale 2,000 S 5.30 $ 10,800 2,000 S 5.30 $ 10,600 $ 5.30 $ 10,600 Beginning Inventory Purchases: August 8 44,000 August 18 August 28 Total 8,000S 6,000 $ 4,000 S 20,000 5.50 5.60 5.80 44.000 33,600 23.200 111,400 8,000s 6,000 $ 4,000 S 16,000 5.50 5.80 5.80 44,000 33,600 23,200 111,400 8,000 $ 5.50 $ 5.60 $ 5.80 10,000 $ S $ 54,600 0 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. points Complete this question by entering your answers in the tabs below. * 01:39:59 FIFO LIFO Average Cast 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.) Hint References Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost of Goods Available for Sale Cost of Goods # of units Cost per Available for unit Sale 2,000 $ 5.30 $ 10,600 # of units sold Cost per unit $ 5.30 Cost of Goods #of units in Sold | ending inventory $ 10,600 2,000 Cost per unit $ 5.30 Ending Inventory $ 10,500 2,000 Beginning Inventory Purchases: August 8 August 18 August 28 8.000 44,000 8,000 6,000 4.000 20,000 $ $ $ 5.50 5.60 5.80 44,000 33,600 23,200 111,400 111,400 8,000 6,000 4,000 16,000 18,000 $ $ $ 5.50 5.60 5.80 44,000 33,600 23,200 111,400 $ $ $ 5.50 5.60 5.80 Total $ $ 10,000 $ 54,500 FIFO LIFO > Check my work Part 1 of 2 Required information Exercise 8-14 (Static) Inventory cost flow methods; perpetual system (LO8-1, 8-4) The following information applies to the questions displayed below.) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: points X 13933 cBook Aug.1 Inventory on hand 2,000 units; cost $5.30 cach. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 cach. 25 Sold 7.000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand 7,000 units. Hint References Exercise 8-14 (Static) Part 1 Required: 1. Using calculations based on a perpetual 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 the FIFO method. Cost of Goods Available for Sale alable for sale cost of Goods Sold - August 18 Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Coat or Goods Sold August 25 Inventory Balance Inventory Balance Cost of od Check my work 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.90 each. 31 Inventory on hand-7,000 units. Part 1 of 2 Exercise 8-14 (Static) Part 1 points Required: 1. Using calculations based on a perpetual 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 the FIFO method. | 01:39:16 cBook Cost of Goods Available for Sale Cost of Goods Sold - August 14 | Cost of Goods Sold - August 25 Inventory Balance Hint Perpetual FIFO: # of units # of units Cost of Cost per Goods unit Available for Sale $ 5.30 S 10,600 Cost per unit Cost of Goods Sold #of units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory References Beg. Inventory 2,000 2,000 $ 5.30 $ 10,600 $ 5.30 S $ 5.30 S Purchases: 4,000 August 8 August 18 August 28 0.00 5.60 0.00 5.60 6,000 4,000 12,000 0.00 5.60 5.80 5.60 5.80 33,600 23,200 67,400 5.80 5.80 on Tolal S 6,000 $ 10,600 S0 S 10.6000 S 0 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Exercise 8-13 (Static) Inventory cost flow methods; periodic system (L08-1, 8-4) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: points 8 01:40:48 Aug.1 Inventory on hand2,000 units; cost $5.30 each. 8Purchased 8,000 units tor $5.50 each. 14 Sold 6,000 units for $12.00 cach. la Purchased 6.000 Lts for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 cach. 31 Inventory on hand-7,000 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 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Answer is not complete. Complete this question by entering your answers in the tabs below. points FIFO LIFO Average Cost 8 01:40:35 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.) Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost of Goods Available for Sale Cost of Cost Goods # of units per unit Available for # of units sald Cost per unit Cost of Goods Sold # of units in ending inventory 2,000 X Cost per unit Ending Inventory Sale 2,000 S 5.30 $ 10,800 2,000 S 5.30 $ 10,600 $ 5.30 $ 10,600 Beginning Inventory Purchases: August 8 44,000 August 18 August 28 Total 8,000S 6,000 $ 4,000 S 20,000 5.50 5.60 5.80 44.000 33,600 23.200 111,400 8,000s 6,000 $ 4,000 S 16,000 5.50 5.80 5.80 44,000 33,600 23,200 111,400 8,000 $ 5.50 $ 5.60 $ 5.80 10,000 $ S $ 54,600 0 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. points Complete this question by entering your answers in the tabs below. * 01:39:59 FIFO LIFO Average Cast 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.) Hint References Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost of Goods Available for Sale Cost of Goods # of units Cost per Available for unit Sale 2,000 $ 5.30 $ 10,600 # of units sold Cost per unit $ 5.30 Cost of Goods #of units in Sold | ending inventory $ 10,600 2,000 Cost per unit $ 5.30 Ending Inventory $ 10,500 2,000 Beginning Inventory Purchases: August 8 August 18 August 28 8.000 44,000 8,000 6,000 4.000 20,000 $ $ $ 5.50 5.60 5.80 44,000 33,600 23,200 111,400 111,400 8,000 6,000 4,000 16,000 18,000 $ $ $ 5.50 5.60 5.80 44,000 33,600 23,200 111,400 $ $ $ 5.50 5.60 5.80 Total $ $ 10,000 $ 54,500 FIFO LIFO > Check my work Part 1 of 2 Required information Exercise 8-14 (Static) Inventory cost flow methods; perpetual system (LO8-1, 8-4) The following information applies to the questions displayed below.) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: points X 13933 cBook Aug.1 Inventory on hand 2,000 units; cost $5.30 cach. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 cach. 25 Sold 7.000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand 7,000 units. Hint References Exercise 8-14 (Static) Part 1 Required: 1. Using calculations based on a perpetual 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 the FIFO method. Cost of Goods Available for Sale alable for sale cost of Goods Sold - August 18 Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Coat or Goods Sold August 25 Inventory Balance Inventory Balance Cost of od