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-2,400 units; cost $5.50 each. August 8 Purchased 9,600 units for $5.70 each. August 14 Sold 7,200 units for $12.20 each. August 18 Purchased 7,200 units for $5.80 each. August 25 Sold 8,400 units for $11.20 each. August 28 Purchased 4,800 units for $6.00 each. August 31 Inventory on hand-8,400 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. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. 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 sta cost method. Note: Round "Average Cost per Unit" to 2 decimal places