E 8-13 Inventory cost flow methods; periodic system LO8-1, [) LO8-4 Altira Corporation provides the following information related to its inventory during the month of August 2024: each. 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: 1. First-in, first-out (FIFO) 2. Last-in, first-out (LIFO) 3. Average cost