mework Saved Help Save & Exit Check my Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-2,000 units; cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,eee units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 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 000 for 5.00 each. 31 Inventory on hand-7,000 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 method. (Round cost per unit to 2 decimal places.) Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost of Goods Available for Sale Cost per Cost of Goods # of units Available for unit Sale 2,000 $ 5.30 $ 10,600 # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 2,000 $ 5.30 $ 10,600 2,000 s 5.30 $ 10,600 Beginning Inventory Purchases: August 8 August 18 August 28 Total 5.50 5.50 5.60 8,000 $ 7,000 $ $ 0 5.60 8,000 $ 6,000 $ 4,000 $ 20,000 44,000 33,600 23,200 111,400 5.50 5.60 $ 5.80 44.000 39,200 23,200 117,000 5.80 4,000 $ 17,000 S 5.80 $ $ 2,000 $ 10,600 FIFC LIFO > 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 Au statement using the LIFO method. (Round cost per unit to 2 decimal places.) Cost of Goods Sold - Periodic LIFO LIFO Cost of Goods Available for Sale Cost of Goods # of units Cost per Available for unit Sale 2,000 $ 5.30 $ 10,600 of units Cost per sold unit Cost of Goods Sold Ending Inventory - Periodic LIFO # of units in ending Cost per Ending unit Inventory inventory 2,000 S 5.30 S 10,600 Os 5.30 0 Beginning Inventory Purchases August 8 August 18 August 28 Total 44,000 6,000 $ 5.50 33,000 $ 8,000 $ 5.50 6,000 $ 5.60 4,000 $ 5.80 20,000 $ 5.60 S 5.50 5.60 5.80 33,600 23,200 111,400 0 $ 5.80 $ $ 6,000 $ 33,000 2,000 0 10,600 $ Using calculations based on a periodic inventory system determine the inventory balance Altira would report in its August 31, 2021, balance sheet and 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 statement using the Average cost method. (Round cost per unit to 2 decimal places.) Average Cost Cost of Goods Available for Sale Cost of Goods Unit # of units Available for Cost Sale 2,000 $ 5.30 $ 10.600 Cost of Goods Sold - Average Cost Average # of units Cost per Cost of sold Goods Sold Unit Ending Inventory - Average Cost # of units Average in ending Ending Cost per inventory unit Inventory Beginning Inventory Purchases: August 8 August 18 August 28 Total 8,000 $ 5.50 6,000 $ 5.60 4,000 $ 5.80 20,000 44.000 33.600 23,200 111,400 S $ $ 0