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Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021 Aug.1 Inwestory on hand-2,000 units cost $5.30 each. # Purchased 8,000 units for 55.50 each. 14 Sold 6.000 units for 512.00 each. 18 Purchased 6,000 units for 55.60 each. 25 Sold 7.000 units for $11.00 each. 20 Purchased 4,000 units for 55.00 each 31 Inventory on hand-7,000 units. Required: Using calculations based on a periodic Inventory system, determine the inventory balence Atira 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 vour answers in the tabs below. TIFO uro Average cost Determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cout of goods sold it would report in its August 2021 Income statement using the FIFO method. (Round cost per unit to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Paradiso Ending inventory Periodic FIFO FIED Cost per Cost of Goods of units Cost per Cost of Goods of units in Cost per Ending of units Available for sold unit Sold Sale unit anding Inventory Inday Beginning Inventory 2,000 $ 5.30 $ 10.600 $ 5.30 5 5.30 $ 0 Purchases August 8,000 $ 5.50 44,000 $ 5.50 5.50 $ 0 6.000 $ 5.60 33,600 $ 5.60 3 5.00 4,000 $ 5.80 5 23,200 August 28 $ 5.10 5,80 20.000 111,400 0 Tosa 5 $ 0 August 18 UFO >

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