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Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-3,500 units; cost $6.80 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 $7.10 each. 25 Sold 13,000 units for $12.50 each. 28 Purchased 5,500 units for $5.80 each. 31 Inventory on hand-10,000 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the LIFO cost flow method. Complete this question by entering your answers in the tabs below. LIFO Determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statem LIFO method. (Round "Cost per Unit" to 2 decimal places.) LIFO Ending Cost of Goods Available for Sale Cost Cost of Goods # of units per unit Available for Sale 3,500 $6.80 $ 23,800 Cost of Goods Sold - Periodic LIFO # of units sold Cost Cost of Goods per unit Sold $ 6.80 $ Ending Inventory - Periodic LIFO # of units in Cost ending per unit Inventory inventory $ 6.80 Beginning Inventory Purchases: August 8 August 18 August 28 17,500 10,500 5,500 $ 7.00 $ 7.10 $ 5.80 122,500 74,550 31,900 $ 7.00 $ 7.10 $ 5.80 $ 7.00 $ 7.10

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