mework wwal Message Help Save & Exit Submit Altira Corporation provides the following information related to its merchandise inventory during the month of August 202t: Check my work 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 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.99 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. Periode FIFO EIFO of units Cost of Goods Available for Sale Cost of Goods # of units Cost per Available for unit Sale 2,000 $ 5.30 $ 10,600 Cost per unit Cost of Goods Sold of units in ending inventory Cost per Ending unit Inventory $ 5.30 $ 2,000 $ 5.30 $ 10.000 44, 000 0 Beginning inventory Purchases: August 8 August 18 August 28 Total 8,000 6,000 4.000 20.000 $ $ $ 5.50 5.60 5.80 44,000 33,600 23,200 111,400 8,000 $ $ ols 10.000 5.50 5.60 5.80 $ 3 $ 5.50 5.60 5.80 $ $ 54, 6000 Help Save & Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021 Check my work 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 7.000 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 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 Income statement using the LIFO method. (Round cost per unit to 2 decimal places.) LIFO Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO Costner Cost of Goods #of units Cost per cost of of units Cost per Ending # of units Available for Sald u sold unit nit Inventor Goods sold Inventory 2,000 $ 5.30 $ 10,600 $ 5.30 $ 0 $ 5.30 # of units unit Sale Beginning inventory Purchases: August 8 August 18 August 28 $ 5.50 $ 5.60 $ 5.80 0 $ $ $ 5.50 5. 60 5.80 8,000 6,000 4,000 20,000 5.60 5.80 $ $ 0 0 111,4000 Total Prev 5 of 8 !!! Next > MacBook Air IMWURD Help Save & Sub Altira Corporation provides the following Information related to its merchandise inventory during the month of August 2020 Check my work 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 7,000 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 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 Average cost method. (Round cost per unit to 2 decimal places.) Coat of Goods Available for Sale Cost of Goods of Units Avantable for Sale 2,000 $ 5.30 $ 10,600 Cost of Goods Sold - Average Cost Ending Inventory - Average Coul is Average Cost of of units Average Ending en sold tot per Gands Saldene Unit Inventory unit Average Cost Beginning Inventory Purchases: August 8 August 18 August 28 8,000 6,000 4,000 20,000 $ 5.50 $ 5.60 $ 5.80 44,000 33,600 23,200 111,400 $ Total
