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Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-2,400 units; cost $5.50 each. August 8 Purchased 9,600 units for $5.70 each. August 14 Sold 7,200 units for $12.20 each. August 18 Purchased 7,200 units for $5.80 each. August 25 Sold 8,400 units for $11.20 each. August 28 Purchased 4,800 units for $6.00 each. August 31 Inventory on hand-8,400 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using each of the following cost flow methods. Complete this question by entering your answers in the tabs below. FIFO FIFO Beginning Inventory Purchases: Determine the inventory balance Altira would report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statemen method. August 8 August 18 August 28 Total LIFO Average Cost Cost of Goods Available for Sale Cost per unit $5.50 $ Number of units 2,400 9,600 $ 5.70 7,200 $5.80 4,800 $6.00 24,000 $ Cost of Goods Available for Sale: 13,200 54,720 41,760 28,800 138,480 Ending Inventory - Periodic FIFO Number of units in ending inventory 0 Cost per unit $5.50 $ 5.70 $ 5.80 $6.00 Check my work Ending Inventory $ $ 0 0 0

Altirs Corporation provides the following information related to its inventory during the month of August 2024 : Aagust 1 Inventory on hand-2,460 andea coot 85.50 each. Nugist \& Purcbased 9,600 andts for 55+70 each. Nugatet 14 geld 3,200 anita for 112.20 ench. Nutgut 10 Purchased 7,200 tuifts for 55,80 each. August 25 Sold B, 400 anitil for 511,20 each. Naguat 2R Purehased 4, b00 units for 56,00 each. Mugutt 21 Imventary on hand-s,400 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31,2024 , bolance sheet and the cost of goods sold it would report in its August 2024 income statement using each of the following cost flow methods Complete this question by entering your answers in the tabs below. Determine the inventory balance Altira would report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income method

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