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Check my work 8 Exercise 8-15 (Algo) LIFO; perpetual system (LO8-1, 8-4] Altira Corporation provides the following information related to its merchandise inventory during the
Check my work 8 Exercise 8-15 (Algo) LIFO; perpetual system (LO8-1, 8-4] Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: 2.27 points Skipped Aug.1 Inventory on hand-3,700 units; cost $7.80 each. 8 Purchased 18,500 units for $7.20 each. 14 Sold 14,800 units for $13.70 each. 18 Purchased 11,100 units for $6.40 each. 25 Sold 13,800 units for $12.70 each. 28 Purchased 5,700 units for $5.B0 each. 31 Inventory on hand-10,400 units. eBook Hint Print 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 last-in, first-out (LIFO). References Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Perpetual LIFO: # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost Cost of per unit Goods Sold # of units sold Cost per unit Cost of Total Cost of Goods Sold Goods Sold # of units ending Inventor 3,700 S 7.80 $ 28.860 $ $ 7.80 $ $ 0 $ 7.80 S $ 0 0 7.20 Beg. Inventory Purchases: August 8 August 18 August 28 Total 18,500 11,100 7.20 6.40 7.20 6.40 0 6.40 133,200 71,040 33,060 266,160 5.8 5.80 0 5.80 5,700 39,000 $ 0 0 $ $ 0 0 $ 0 $ 0
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