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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
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 Inventory on hand-2,100 units; cost $6.20 each. 8 Purchased 10,500 units for $5.60 each. 14 Sold 8,400 units for $12.10 each. 18 Purchased 6,300 units for $5.40 each. 25 Sold 7,400 units for $11.10 each. 28 Purchased 4,100 units for $5.80 each. 31 Inventory on hand-7,200 units. 2. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its Aug 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the Average cost (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods Sold Inventory Balance Perpetual Average Cost per Cost per # of units Inventory Value # of units Avg.Cost sold Cost of Goods Sold # of units in inventory Endin invent unit per unit unit
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