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00 8 Part of 30 Doints Required Information The following information applies to the question displayed below) Altira Corporation provides the following information related to merchandise invertory during the month of August 2021 Aug. Inventary on hand-3.500 GRETS COLE 16.00 each & Purchased 12.500 units for $5.00 each 14 Sold 10.000 units for $12.50 each 1 Purchased 7,500 nits for $5,20 each 25 Sold 9.000 units for $11.50 each 20 Furchased 4,500 units for $5.00 each 31 Inventory on hand-3.000 units. 02336 cBook Hint Required: 1. Using calculations based on a perpetual inventory system determine the inventory balance Altra would reports August 2021 balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FFO method Point Cost of Goods Sold. At 25 o ELEO References Cast of Goods Available for Sale Cost of Good Sohl August 14 Cont of of Goods of unit units Couper Cost of Available for Goods Sold Sale sold 2.500 $ 6.60 16500 25.000 5 660 5 165.000 Cost per units Cost per Cost of Goods Sold Goods Sol Total Code Cost E $ 6605 560 Beg Inventory Purchase August August 10 August 20 Total 12.500 7,500 4500 27.000 600 520 580 75.000 39.000 26.100 5 156.600 25.000 6.00 5:20 5.80 6.00 520 500 6.00 520 560 5 165.000 O OS 165.000 Inventory Valuation Required information The following information applies to the questions displayed below) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021 Aug.1 mventory on hand-2.500 units: cost $6.60 each. Purchased 12,500 units for 56.00 each. 14 Sold 10,000 units for $12.50 each. 15 Purchased 7,500 units for $5.20 each. 25 Sold 9.000 units for $11.50 each. 28 Purchased 4,500 units for $5.80 each. 31 Inventory on hand-,000 units. 2. Using calculations based on a perpetual 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 the Average cost method (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods Sold Inventory Balance Perpetual Average Cost per of units Inventory Value unit of units Avg.Cost sold per unit Cost of Goods Sold W of units in Cost per Inventory unit Ending Inventory Beginning inventory Purchase - August 8 5 Sale - August 14 Purchase - August 18 5 0 Sale - August 25 Purchase August 28 Total 5 0 3 $