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5 1.16 points eBook 101 Hint References Altira Corporation provides the following information related to its inventory during the month of August 2024; August 1 Inventory on hand-3,800 units; cost $7.90 each. August 8 Purchased 19,000 units for $7.30 each. Purchased 11,400 units for $6.80 each. August 14 Sold 15,200 units for $13.80 each. August 18 August 25 August 28 Purchased 5,800 units for $5.80 each. August 31 Inventory on hand-10,600 units. Sold 14,200 units for $12.80 each. Using calculations based on a perpetual 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 last-in, first-out (LIFO). Perpetual LIFO: Beginning Inventory Purchases: August 8 August 18 August 28 Total Cost of Goods Available for Sale Cost per unit 3,800 $7.90 $ Number of units 19,000 7:30 11,400 6.80 5,800 5.80 40,000 Cost of Goods Available for Sale $ 30,020 138,700 77,520 33,640 279,880 Cost of Goods Sold - August 14 Number of Cost units sold per unit 0 Cost of Goods Sold $ 7.90 $ 7.30 6.80 5.80 $ 0 0 0 0 Cost of Goods Sold - August 25 Cost per unit $7.90 $ Number of units sold 0 7.30 6.80 5.80 Cost of Goods Sold $ 0 0 Total Cost of Goods Sold $ 0 Inventory Balance Number of units in ending inventory 0 Cost per unit $ 7.90 7.30 6.80 5.80 Ending Inventory $ 0 0

Atire Corpor otion provides the foliowing information related to its inventery during the month of Auguat 2024: Aupat is sold 14,200 unsts for 117.60 rark, Using ealculations based on a perpetual invertory sysum determine the inventory belance Atora would report in iss Augut 31.202

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