Exercise 8-13 (Algo) Inventory cost flow methods; periodic system (LO8-1, 8-4) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand3,400 units; cost $6.70 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 $7.00 each. 25 Sold 12,600 units for $12.40 each. 28 Purchased 5,400 units for $5.80 each. 31 Inventory on hand-9,800 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using each of the following cost flow methods. FIFO LIFO Average Cost Determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 inco LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Sold - Periodic LIFO LIFO Cost of Goods Available for Sale Cost Cost of Goods # of units per Available for Sale unit # of units sold Cost per unit Cost of Goods Sold Ending Inventory - Periodic LIFO # of units in Cost Ending ending per unit Inventory inventory $ 6.70 3,400 $ 6.70 $ 22,780 $ 6.70 $ 0 Beginning Inventory Purchases: $ 6.90 $ 6.90 August 8 August 18 August 28 $ 7.00 $ 7.00 0 17,000 $ 6.90 10,200 $ 7.00 5,400 $ 5.80 36,000 117,300 71,400 31,320 242,800 $ 5.80 Total $ 0 0 0 $ 0