Item3 16.68 points Return to questionItem 3Item 3 16.68 points Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand3,800 units; cost $7.10 each. 8 Purchased 19,000 units for $7.30 each. 14 Sold 15,200 units for $13.80 each. 18 Purchased 11,400 units for $7.40 each. 25 Sold 14,200 units for $12.80 each. 28 Purchased 5,800 units for $5.80 each. 31 Inventory on hand10,600 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 statem method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Sold - Periodic FIFO FIFO Cost of Goods Available for Sale Cost Cost of Goods # of units per Available for Sale unit 3,800 $ 7.10 26.980 Ending # of units sold Cost of Goods Sold Ending Inventory - Periodic FIFO Cost # of units in ending per inventory Inventory 0 $ 7.10 $ 0 per unit $ 7.10 unit $ 3,800 $ 26,980 138,700 Beginning Inventory Purchases: August 8 August 18 August 28 Total 19,000 11,400 5,800 40,000 $7.30 $ 7.40 $ 5.80 138,700 84,360 84,360 33,640 283,680 19,000 $ 7.30 11,400 $ 7.40 5,800 40,000 15,200 X $ 7.30 11,400 $ 7.40 5,800 $ 5.80 32,400 110,960 84,360 33,640 $ 228,960 $ 250,040 FIFO LIFO > 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 in LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale LIFO Cost Cost of Goods Cost of Goods Sold - Periodic LIFO Cost Cost of # of units sold per Goods Sold # of units per Ending Inventory - Periodic LIFO # of units in Cost Ending ending Inventory inventory 3,800 $ 7.10 $ 26,980 Available for Sale unit per unit 3,800 $ 7.10 $ 26,980 $ 7.10 $ Beginning Inventory Purchases: August 8 August 18 August 28 Total 19,000 11,400 5,800 40.000 $ 7.30 $ 7.40 $ 5.80 $ 7.30 $ 7.40 138,700 84,360 33,640 283,680 $ 7.30 $ 7.40 $ 5.80 11,400 5,800 17,200 84,360 33,640 84,360 3,800 $ 26,980 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 cost method. (Round "Average Cost per Unit" to 2 decimal places.) Cost of Goods Sold - Average Cost Average Cost Cost of Goods Available for Sale Cost of Unit # of units Goods Cost Available for Sale 3,800 $7.10 $ 26,980 Average Cost per Unit # of units sold Ending Inventory - Average Cost # of units in Average Ending ending Cost per Inventory inventory unit Cost of Goods Sold Beginning Inventory Purchases: August 8 August 18 August 28 Total 19,000 11,400 5,800 40,000 $7.30 $7.40 $5.80 138,700 84,360 33,640 283,680 $