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Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2016:

Aug.1	Inventory on hand3,400 units; cost $7.50 each.
8	Purchased 17,000 units for $6.90 each.
14	Sold 13,600 units for $13.40 each.
18	Purchased 10,200 units for $6.40 each.
25	Sold 12,600 units for $12.40 each.
31	Inventory on hand4,400 units.

Required:

Determine the inventory balance Altira would report in its August 31, 2016, balance sheet and the cost of goods sold it would report in its August 2016 income statement using each of the following cost flow methods: (Round "Average Cost per Unit" to 2 decimal places.) Perpetual Average Inventory on hand Cost of Goods Sold Inventory Balance # of units Cost per unit Inventory Value # of units sold Avg.Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending inventory Beginning Inventory 3,400 $7.50 $25,500 3,400 $7.50 $25,500 Purchase - August 8 17,000 $6.90 117,300 Subtotal Average Cost $7.00 Sale - August 14 13,600 $7.00 $95,200 Subtotal Average Cost Purchase - August 18 10,200 $4.31 43,962 0 Subtotal Average Cost Sale - August 25 12,600 $7.24 91,224 Total 30,600 $186,762 26,200 $186,424

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