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Altira Corporation provides the following Information related to its merchandise Inventory during the month of August 2021: Aug.1 Inventory on hand-4,880 units; cost $7.30 each. 8 Purchased 20,00 units for $7.50 each. 14 Sold 16,000 units for $14.00 each. 18 Purchased 12,000 units for $7.60 each. 25 Sold 15, eee units for $13.00 each. 28 Purchased 6,000 units for $5.80 each. 31 Inventory on hand-11,800 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. Complete this question by entering your answers in the tabs below. 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 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 FIFO # of units Cost Cost of Goods Available per unit for Sale of units sold Cost per unit Cost of Goods Sold #of units in ending inventory Cost Ending per unit Inventory Beginning Inventory Purchases: August 8 August 18 August 28 Total FIFO LIFO > 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 income statement using the LIFO method. (Round "Cost per Unit" to 2 decimal places.) LIFO Cost of Goods Available Sale Cost Cost of Goods # of units per Available for Sale unit Cost of Goods Sold - Periodic LIFO # of units sold Cost Cost of Goods per unit Sold Ending Inventory - Periodic LIFO of units in Cost Ending ending per unit Inventory inventory Beginning Inventory Purchases: August 8 August 18 August 28 Total FIFO Average Cost > 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 income statement using the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Cost of Goods Sold - Average Cost Average Cost Cost of Goods Available for Sale Unit Cost of Goods # of units Available for Sale Cost Ending Inventory - Average Cost # of units in Average Ending ending Cost per Inventory inventory unit Average Cost per Unit # of units sold Cost of Goods Sold Beginning Inventory Purchases: August 8 August 18 August 28 Total