Exercise 8-13 (Algo) Inventory cost flow methods; periodic system [LO8-1, 8-4] 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 $6.70 each. August 8 August 14 August 18 August 25 August 28 Purchased 19,200 units for $6.90 each. Sold 14,400 units for $13.40 each. Purchased 14,400 units for $7.00 each. Sold 16,800 units for $12.40 each. Purchased 9,600 units for $7.20 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, t goods sold it would report in its August 2024 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. FIFO LIFO Average Cost Check my work 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 Augu method. Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO FIFO Number of units Beginning Inventory Cost Cost of Goods Available Number of units sold for Sale per unit 4,800 $6.70 S 32,160 Cost per unit 215,472 $6.70 $ Cost of Goods Sold Ending Inventory-Periodi Number of units in ending inventory Cost. per unit 1,443,662 0 $ 6.70 Purchases: August 8 19,200 $6.90 132,480 914,112 $ 6.90 6,307,373 0 $ 6.90 August 18 14,400 $7.00 100,800 705,600 $7.00 4,939,200 0 $7.00 August 281 9,600 $7.20 69,120 497,664 $7.20 Total 48,000 $ 334,560 2,332,848 $ 3,583,181 16,273,416 0 $ 7.20 0 CMO LIFO > report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income state Available for Sale Ending Inventory-Periodic FIFO Cost of Goods Sold - Periodic FIFO Cost of Goods Available Number of units for Sale sold Cost per unit Cost of Goods Sold Number of units in ending inventory Cost Ending per unit Inventory , $ 32,160 215,472 $6.70 $ 1,443,662 0 $ 6.70 $ 0 ) 132,480 914,112 $6.90 6,307,373 0 $ 6.90 0 33 100,800 705,600 $ 7.00 4,939,200 0 $ 7.00 69,120 497,664 $7.20 3,583,181 0 $ 7.20 $ 334,560 2,332,848 $ 16,273,416 0 $ 0 FIFO LIFO > FIFO question by cinering your answers in the tabs below. LIFO 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 Augu LIFO method. Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO LIFO Cost Number of units per unit Cost of Goods Available for Sale Number of units sold Cost per unit Cost of Goods Ending Inventory Periodic L Number of units Cost End Sold in ending per unit Inver inventory Beginning Inventory 4,800 $6.70 $ 32,160 $6.70 $ 0 $6.70 Purchases: August 8 19,200 $6.90 132,480 $ 6.90 $ 6.90 August 18 14,400 $7.00 100,800 $ 7.00 $7.00 August 28 9,600 $7.20 69,120 $7.20 $7.20 Total 48,000 $ 334,560 0 $ 0 0 $ ould report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statem ds Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO st Number of units Cost of Goods Number of units Available for Sale sold it Cost per unit Cost of Goods in ending Sold inventory 5.70 $ 32,160 $6.70 $ 6.90 132,480 7.00 100,800 7.20 69,120 $ 334,560 Cost Ending per unit Inventory $6.70 $ 6.90 $7.00 0 $ 7.20 0 0 0 $ 0 www. Noub FO LIFO Average Cost Check my work mine 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 nethod. Round "Average Cost per Unit" to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory Average Cost Book erage Cost Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost Cost of Goods per Unit Sold units in ending Cost per Number of Average Endir Invent inventory unit int ng Inventory 4,800 $ 6.70 $ 32,160) wint 305: rences ist 8 19,200 $ 6.90 132,480 ist 18 14,400 $7.00 100,800 ist 28 9,600 $ 7.20 69,120 48,000 $ 334,560 aw