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Required Information Exercise 8 - 1 4 ( Algo ) Inventory cost flow methods; perpetual system [ LO 8 - 1 , 8 - 4
Required Information
Exercise Algo Inventory cost flow methods; perpetual system LO
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Altira Corporation provides the following information related to its inventory during the month of August :Exercise Algo Part Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August balance sheet and the cost of goods sold it would report in its August income statement using the Average cost method.Note: Round "Average Cost per Unit" to decimal places.Answer is complete but not entirely correct.
tablePerpetual Average,Inventory on hand,Cost of Goods Sold,Inventory BalancetableNumberof unitstableCostperunittableInventoryValuetableNumberof unitssoldtableAverageCostper unittableCost ofGoodsSoldtableNumberof unitsininventorytableCostperunittableEndinginventoryBeginning Inventory,$$$Purchase August $S Sale August $$ $Purchase August $$Sale August s $Purchase August $ $Total$ $ S
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