Exercise 8-13 (Algo) Inventory cost flow methods; periodic system [LO8-1, 8-4]

Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021:

Aug.1	Inventory on hand3,700 units; cost $7.00 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 $7.30 each.
25	Sold 13,800 units for $12.70 each.
28	Purchased 5,700 units for $5.80 each.
31	Inventory on hand10,400 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.