Alitira Corporation provides the following information related to its merchandise inventory during the month of...
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Accounting
Alitira Corporation provides the following information related to its merchandise inventory during the month of August 2021
Aug 1 Inventory on hand- 2,000 units cost $5.30 each
8 Purchased 8,000 units for $5.50 each
14 Sold 6,000 units for $12 each
18 Purchased 6,000 units for $5.60
25 Sold 7,000 units for $11 each
28 Purchased 4,000 units for $5.80 each
31 Inventory on Hand - 7,000 units
Based on a perpetual Inventory system find the inventory balance Alitira would report on the balance sheet as well as the cost of goods sold it would report if it used the average cost method
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