Exercise Algo Inventory cost flow methods; perpetual system LO
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Altira Corporation provides the following information related to its inventory during the month of August :
August Inventory on hand units; cost $ each.
August Purchased units for $ each.
August Sold units for $ each.
August Purchased units for $ each.
August Sold units for $ each.
August Purchased units for $ each.
August Inventory on hand units.
Exercise Algo Part
Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August balance sheet and the cost of goods sold it would report in its August income statement using the Average cost method.
