Exercise 8-13 Inventory cost flow methods; periodic system [LO8-1, 8-4] Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of August 2018 is available Aug.1 Inventory on hand-9,500 units; cost $8.20 each 8 Purchased 28,000 units for $7.30 each 14 Sold 20,000 units for $13.80 each. 18 Purchased 15,000 units for $6.80 each 25 Sold 19,000 units for $12.80 each 31 Inventory on hand-13,500 units Required Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using each of the following cost flow methods Complete this question by entering your answers in the tabs below LIFO Average Cost Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using the FIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO Cost of Goods | # of units | Cost per FIFO Cost per Available for | # of un per unit Cost of # of units unit Goods Sold in edngCost per Ending sold Inventory Sale inventory S 0.00 0.00 $ Beginning Inventory Purchases August 8 August 18 $ 0.00 $ 0.00 $ 0.00 $ 0.00 Total