OSCI tory during the month of E 8-13 Inventory cost flow methods; periodic system L08-1, LO8-4 Altira Corporation provides the following information related to its merchandise inventory durine August 2021: Aug. 1 Inventory on hand-2,000 units; cost $5.30 each. Purchased 8,000 units for $5.50 each. 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. Inventory on hand-7,000 units. 8 14 - 31 ce Altira would report 2021 income state- Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 incom ment using each of the following cost flow methods: 1. First-in, first-out (FIFO) 2. Last-in, first-out (LIFO) 3. Average cost