I don't understand why you wouldn't take the first sale out of the August 8th purchase since you're using FIFO. Please help and show me how you did it. Please note that it is a PERIODIC INVENTORY SYSTEM and not a perpetual inventory system.

Altira Corporation provides the following information related to its merchandise Inventory during the month of August 2021: Aug.1 Inventory on hand-2,990 units; cost $6.20 each. 8 Purchased 14,500 units for $6.40 each. 14 Sold 11,600 units for $12.99 each. 18 Purchased 8,700 units for $6.50 each. 25 Sold 10,600 units for $11.99 each. 28 Purchased 4,980 units for $5.80 each. 31 Inventory on hand-8,880 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 2021 income statement using the FIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost Ending per unit Inventory 2,900 $ 0.20 $ 17.980 2.900 $ 6.20 S 17,980 0 $ 6.20 S $ 0 92,800 0 Beginning Inventory Purchases: August 8 August 18 August 28 Total $ 6.40 $ 6.50 58,550 14,500 $ 6.40 8,700 $ 6.50 4,900 $ 5.80 31,000 $ 6.40 $ 6.50 $ 5.80 28,420 195,750 S $ 2.900 $ 17.980 0 S 0