Chooter Ho. Search Textbo... httpoteam... httpsynean-u... (37 WhatsApp CYCLE 20 AB CYCLE 20 AB The more elas Curre er 8 Homework Help Save & Exit Submit Check my work Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand 2,000 units cost $5.30 each. 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 each. 25 Sold 7.000 units for $11.00 each. 28 Purchased 4,000 units for $5.00 each. 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. 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 would report in its August method. (Round cost per unit to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Available for FIFO Cost of Goods Sold - Periodic FIFO # of units Cost per Cost of Goods sold unit Sold $ 5.30 Cost per unit Ending Inventory - Periodic FIF #of units in Cost per ending Inventory unit $ 5.30 of units Invel Sale Beginning Inventory 2,000 $ 5.30 $ 10,6001 Check my work 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 Complete this question by entering your answers in the tabs below. 6.00 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 would report in its August method. (Round cost per unit to 2 decimal places.) Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIF FIFO Cost of Goods Available for Sale Cost per Cost of Goods # of units Available for unit Sale 2,000 $ 5.30 $ 10,600 # of units sold Cost per unit Cost of Goods Sold #of units in ending inventory Cost per unit Inver $ 5.30 $ 5.30 44.000 $ 5.50 Beginning Inventory Purchases August 8 August 18 August 28 Total 8,000 6,000 4,000 20,000 $ $ $ 5.50 5.60 5.80 5,60 33,600 23.200 111,400 5.50 5.60 5801 $ $ $ 5.80 LIFO >