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(Please answer the incorrect ones) Thanks Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of
(Please answer the incorrect ones) Thanks
Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of August 2018 is available:
Aug.1 Inventory on hand3,500 units; cost $6.70 each.
8 Purchased 17,000 units for $6.20 each.
14 Sold 11,500 units for $12.70 each.
18 Purchased 9,500 units for $5.70 each.
25 Sold 10,500 units for $11.70 each.
31 Inventory on hand8,000 units.
Answer is not complete. 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, 2018, balance sheet and the cost of goods sold it would report i statement using the FIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Sold - Periodic FIFO Cost of Goods Available for Ending Inventory - Periodic FIFO Sale #of |Cost per unit | Available units | Cost | Cost of sold Cost of Goods #of units inCost FIFO #of Ending Goods ending p Sold er unit Inventory per unit for Sale invento | 3,500$6.70 )|$ 23,450 | 3,500$ 6.70 |$23,450 Beginning Inventory Purchases August 8 August 18 17,000 $6.20 105,400 |17,000 $ 6.20 | 105,400 9,500$5.7054,150 2,000 5.70 11,400 $ 140,250 6.20 0 S 5.70 Total 30,000 $ 183,000 22,500
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