Altira Corporation provides the following information felated to its inventory dufing the month of August...
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Altira Corporation provides the following information felated to its inventory dufing the month of August 2024 : Aagust i Purehased 20,000 units for $7.50 each. Aagust is sold 16,000 units for $14,00 each. August is parehased 12,000 units for $7,00 each. August 25 Sold 15,000 units for $12,00 each. Awgust 28 purchased 6,000 units for $5.40 enoh. Auguet 31 . Inventory on band-11,000 unite. 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)
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