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Required information Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018: Aug.1 Inventory on

Required information

Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018:

Aug.1 Inventory on hand3,500 units; cost $7.60 each.
8 Purchased 17,500 units for $7.00 each.
14 Sold 14,000 units for $13.50 each.
18 Purchased 10,500 units for $6.80 each.
25 Sold 13,000 units for $12.50 each.
31 Inventory on hand4,500 units.

3. Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.)

Answer is not complete.

Perpetual Average Inventory on hand Cost of Goods Sold Inventory Balance
# of units Cost per unit Inventory Value # of units sold Avg.Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending inventory
Beginning Inventory 3,500selected answer correct $7.60selected answer correct $26,600 3,500selected answer correct $7.60 $26,600
Purchase - August 8 17,500selected answer correct $7.00selected answer correct 122,500 17,500selected answer incorrect $7.10 $124,250
Sale - August 14 14,000selected answer correct $7.10selected answer correct $99,400 7,000 $7.10 $49,700
Purchase - August 18 10,500selected answer correct $6.80selected answer correct 71,400 not attempted
Sale - August 25 13,000selected answer correct $7.00selected answer incorrect 91,000 4,500 $7.00 $31,500
Total 31,500 $220,500 27,000 $190,400

Can you please calculate Avg. Cost per unit for August 25, also # of units in ending inventory for August 8 and August 18. Thank you

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