i Saved Help Sas Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021 Aug.1 Inventory on hand-2,900 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 $11.90 each. 28 Purchased 4,900 units for $5.00 each. 31 Inventory on hand-8,800 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 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 it. August 2021 incor method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Sold Periodic FIFO Cost of Goods Available for Sale Cost Ending Inventory Periode FIFO # of units in ending Cost Enfang inventory per un inventory 5 620 5 Cost of Goods Sold EIRO #of units sold per unit # of units Cost Cost of Goods per un Available for Sale 2.900 5.6.205 17980 $ 620 $ 640 $ 6.50 $ 6.40 $ 6.50 $ 580 Beginning Inventory Purchases August August 18 August 28 Total 92 800 56.550 28 420 195.750 5 14.500 56:40 8.700 5 6.50 4900 $ 5.80 31.000 0 0 $ 5 LIFO > FIFO LIFO Average Cost per un 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 Ince LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold Periodic LIFO Ending inventory Periodietro LEO Cost of units Cost of Goods #of units in per Cost Cost of Goods of units sold Cost Available for Sale Ending ending Sold unit inventory per unit Inventory Beginning Inventory 2.900 56.2015 17.900 $ 620 5 0 5 620 Purchases August 8 14,500 $6.40 92 800 5 6 40 5 640 August 18 8.700 $ 6.50 56 550 $ 6.50 $ 6.50 0 August 28 4.900 5580 28 420 $5.80 31.000 Total $ 0 195.750 5 0 5 (FIFO Average Cost Check my work 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 incor cost method. (Round "Average Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory. Average Chat Avenge Cost Cost of Goods of units in Unit Cost of Goods # of units Average Average Cost of units sold Available for Cost Ending ending per Unit Cost per Sold Sale Inventory Inventory Beginning Inventory 2.900 56 20 5 17.980 Purchases August 8 14.500 S 6.40 92 800 August 18 8.700 $ 6.50 56 550 August 28 4.900 55.80 28 420 $ 31 000 Total $ 195,750