Determine the inventory balance Altira would report in its August $31,2024,$ balance sheet and the cost of goods sold it would report in its August $2024$ income statemer

cost method.

Note: Round "Average Cost per Unit" to $2$ decimal places. FIFO

LIFb

Average Cost

Determine the inventory balance Altira would report in its August $31,2024,$ balance sheet and the cost of goods sold it would report in its August $2024$ income statemer LIFO method.

FIFO

Average Cost FIFO

Average Cost

Determine the inventory balance Altira would report in its August $31,2024,$ balance sheet and the cost of goods sold it would report in its August $2024$ income stater method.

$\backslash$table$[[$FIFO$,$Cost of Goods Available for Sale,Cost of Goods Sold $-$ Periodic FIFO,Ending Inventory $-$ Periodic FIFO$],[\backslash$table$[[$Number of$],[$units$]],\backslash$table$[[$Cost$],[$per unit$]],,\backslash$table$[[$ods$],[$Sale$]],\backslash$table$[[$Number of units$],[$sold$]],\backslash$table$[[$Cost$],[$per unit$]],\backslash$table$[[$Cost of Goods$],[$Sold$]],\backslash$table$[[$Number of units in$],[$ending inventory$]],\backslash$table$[[$Cost$],[$per unit$]],\backslash$table$[[$Ending$],[$Inventory$]]],[$Beginning Inventory,$4,800,$$$6\mathrm{.}70,$$$,32,160,,$$$6\mathrm{.}70,,,$$$6\mathrm{.}70,$$$],[$Purchases:$,,,,,,,,,0,],[$August $8,19,200,$$$6\mathrm{.}90,,132,480,,$$$6\mathrm{.}90,,,$$$6\mathrm{.}90,0],[$August $18,14,400,$$$7\mathrm{.}00,,100,800,,$$$7\mathrm{.}00,,,$$$7\mathrm{.}00,],[$August $28,9,600,$$$7\mathrm{.}20,,69,120,,$$$7\mathrm{.}20,,,$$$7\mathrm{.}20,],[$Total$,48,000,,$$$,334,560,0,,$$$,0,,0]]$Altira Corporation provides the following information related to its inventory during the month of August $2024$:

August $1$ Inventory on hand$4,800$ units; cost $$6\mathrm{.}70$ each.

August $8$ Purchased $19,200$ units for $$6\mathrm{.}90$ each.

August $14$ Sold $14,400$ units for $$13\mathrm{.}40$ each.

August $18$ Purchased $14,400$ units for $$7\mathrm{.}00$ each.

August $25$ Sold $16,800$ units for $$12\mathrm{.}40$ each.

August $28$ Purchased $9,600$ units for $$7\mathrm{.}20$ each.

August $31$ Inventory on hand$16,800$ units.

Required:

Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August $31,2024,$ balance sheet and the cost of goods sold it would report in its August $2024$ income statement using each of the following cost flow methods.