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Connect X C [The Following Information Appli X * Course Hero X X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba. APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin i Indeed Thrift Savings Plan G Google Other favorites Chapter 08 i Saved Help Save & Exit Submit Check my work 6 Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: 2 Aug.1 Inventory on hand-4,000 units; cost $7.30 each. points 8 Purchased 20,000 units for $7.50 each. 14 Sold 16,000 units for $14.00 each. 18 Purchased 12, 000 units for $7.60 each. 25 Sold 15,000 units for $13.00 each. eBook Purchased 6,000 units for $5.80 each. 31 Inventory on hand-11,000 units. Hint Print 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 FI method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO # of units Cost Cost of Goods # of units sold Cost Cost of Goods # of units in ending Cost Ending per unit Available for Sale per unit Sold inventory per unit Inventory Mc Graw Hill Type here to search 09:35 27/09/2020Connect X C [The Following Information Appli X * Course Hero X X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin ; Indeed d Thrift Savings Plan G Google Other favorites Chapter 08 i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 6 Complete this question by entering your answers in the tabs below. 2 FIFO LIFO Average Cost points 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 FI method. (Round "Cost per Unit" to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost # of units per Cost of Goods # of units Cost per Cost of # of units in ending Cost per Ending unit Available for Sale sold unit Goods Sold inventory unit Inventory Beginning Inventory 4,000 $7.30 $ 29,200 4,000 ~ $7.30 $ 29,200 $7.30 $ 0 Purchases: August 8 20,000 $ 7.50 150,000 16,000 X $7.50 120,000 $7.50 0 August 18 12,000 $ 7.60 91,200 $ 7.60 5,000 $7.60 38,000 August 28 6,000 $ 5.80 34,800 6,000 $5.80 34,800 Total 42,000 $ 305,200 20,000 $ 149,200 11,000 $ 72,800 Mc Graw Hill Type here to search S 09:35 27/09/2020Connect X C [The Following Information Appli X * Course Hero X X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin ; Indeed d Thrift Savings Plan G Google Other favorites Chapter 08 i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 6 Complete this question by entering your answers in the tabs below. 2 FIFO LIFO Average Cost points 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.) Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO LIFO Cost Cost of Goods Cost # of units in Cost # of units per ble for Sale # of units sold per Cost of Ending unit unit Goods Sold ending per inventory unit Inventory Beginning Inventory 4,000 $ 7.30 $ 29,200 $7.30 $ 0 4,000 $7.30 29,200 Purchases: August 8 20,000 $ 7.50 150,000 $ 7.50 $ 7.50 August 18 12,000 $7.60 91,200 12,000 $7.60 91,200 $7.60 0 August 28 5,000 $ 5.80 34,800 6,000 $ 5.80 34,800 Total 42,000 $ 305,200 18,000 91,200 4,000 29,200 Mc Graw Hill Type here to search S 09:35 27/09/2020 EConnect X C [The Following Information Appli X * Course Hero X X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin ; Indeed d Thrift Savings Plan G Google Other favorites Chapter 08 i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 6 Complete this question by entering your answers in the tabs below. 2 FIFO LIFO Average Cost points 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 A\\ cost method. (Round "Average Cost per Unit" to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Cost of Unit Goods Average Cost of # of units in Average # of units Cost Available for # of units sold Cost per Goods Sold ending Cost per Ending Inventory Sale Unit inventory unit Beginning Inventory 4,000 $7.30 $ 29,200 Purchases August 8 20.000 $7.50 150,000 August 18 12,000 $7.60 91,200 August 28 6,000 $5.80 34.800 Total 42,000 305,200 $ 0 $ 0 Screenshot Added A screenshot was added to your Dropbox. Mc Graw Hill Dropbox Type here to search S 09:35 27/09/2020