Exercise 8-13 (Algo) Inventory cost flow methods; periodic system [LO8-1, 8-4] Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-4,000 units; cost $6.30 each. August 8 Purchased 16,000 units for $6.50 each. August 14 Sold 12,000 units for $13.00 each. August 18 Purchased 12,000 units for $6.60 each. August 25 Sold 14,000 units for $12.00 each. August 28 Purchased 8,000 units for $6.80 each. August 31 Inventory on hand-14,000 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. Complete this question by entering your answers in the tabs below. Determi Y the inventory balance Altira would report in its August 31, 2024, balance sheet and the cost of goods its August 2024 income statement using the FIFO method. Buave it surchaned 12.6eg onlts tee 15 , te teath. Rrequarind Complete thia puention by entering your ansasers lin the tabs beley Cernplete thia suestian ly entering reur brawpis in the tatin bewien: Its kigat asud indome steieriet unisg the aver bit peie nuthod