Check my work Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of August 2018 is available: 0.5 points Aug.1 Inventory on hand-2,000 units; cost $6.10 each 8 Purchased 10,000 units for $5.50 each 14 Sold 8,000 units for $12.00 each 18 Purchased 6,000 units for $5.00 each 25 Sold 7,000 units for $11.00 each 31 Inventory on hand-3,000 units Required Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in ts August 2018 income statement using each of the following cost flow methods. Hint Print Complete this question by entering your answers in the tabs below References FIFO LIFO Average Cost Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Sold-Periodic LIFO Ending Inventory-Periodic LIFO Cost per unit $ 6.10 Cost of Goods Available for Sale Cost of Goods | # of units # of units | LIFO Cost perAvailable for cost per Cost of |units # of units 1 sold Goods Sold in ending inventor unit unit Inventory Sale S 6.10S Beginning Inventory Purchases: 2,000$ 6.10 12,200 August 8 August 18 0,000 5.50 6,000 $5.00 18,000 55,000 30,000 $97,200 S 5.50 S 5.00 $5.50 $5.00 Total