Question: Hello I'm needing help with this question. I only have a few number of checks please help if you know how to do this one.

Hello I'm needing help with this question. I only have a few number of checks please help if you know how to do this one.

Hello I'm needing help with this question. I only have a few

Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2016 Aug.1 Inventory on hand-2,000 units, cost $6.10 each 8 Purchased 10,000 units for $5.50 each. 14 Sold 8,000 units for $12.00 each. 18 Purchased 6,000 units for $5.00 each. 25 Sold 7,000 units for $11.00 each. 31 on hand-3,000 units. Required: Determine the inventory balance Altira would report in its August 31, 2016, balance sheet and the cost of goods sold it would report in its August 2016 income statement using each of the following cost flow methods: (Round "Average Cost per Unit to 2 decimal places.) Answer is not complete. Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Sale Cost of Cost of Goods Sold #of # of units in ending Cost #of Cost of #of units Cost per unit Available units per unit Inventory per unit Sold for Sale 2,000 $6.10 12,200 12,000 S 6.10 |s 12,200 6.10 6.10 S August 8 110,000 5.500 55,000 16,000 5.50 | 33,000 August 18 | 6,000 5.00 30,000 5.50 5.50 5.00 5.00 5.00 Total 18,000 97,200 8,000 45,200 Answer is not complete. Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Cost of #of # of units in ending Cost #of Cost of Cost of #of units Cost per unit Cost per unit Cost per unit Inventory Available for Sale Sold 2,000 $6.10 12,200 6.10 6.10 August 8 August 18 110,00001 5.500| 55,000 30,000 97,200 5.50 5.00 5.50 5.50 5.00 6,000 5.00 5.00 18,000

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