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Altira Corporation provides the following information related to its inventory during the month of August $2024$:

August $1$ Inventory on hand$-4,200$ units; cost $$6\mathrm{.}40$ each.

August $8$ Purchased $16,800$ units for $$6\mathrm{.}60$ each.

August $14$ Sold $12,600$ units for $$13\mathrm{.}10$ each.

August $18$ Purchased $12,600$ units for $$6\mathrm{.}70$ each.

August $25$ Sold $14,700$ units for $$12\mathrm{.}10$ each.

August $28$ Purchased $8,400$ units for $$6\mathrm{.}90$ each.

August $31$ Inventory on hand $14,700$ units.

Required:

Using calculations based on a periodic 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 each of the following cost flow methods.

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$$ Average Cost

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 $20$ : method.