Altra Corporation provides the following Information related to its merchandise Inventory during the month of...
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Altra Corporation provides the following Information related to its merchandise Inventory during the month of August 2021 Aug.1 Inventory on hand-4,200 units; cost $7.30 each. 8 Purchased 20,800 units for $7.50 each. 14 Sold 16,eee units for $14.ee each. 18 Purchased 12,eee units for $7.60 each. 25 Sold 15,eee units for $13.ee each. 28 Purchased 6, eee units for $5.80 each. 31 Inventory on hand-11,eee 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 each of the following cost flow methods Complete this question by entering your answers in the tabs below. FIFO LIFO Average Cost 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 FIFO method. (Round "Cost per Unit" to 2 decimal places.)
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