Question

Chi Altira Corporation provides the following information related to its merchandise inventory during the month of August 2020: Aug.1 Investory on hand-3,300 witaj o 36.60 each Perchased 16,500 units for $6.80 each. 14 Sold 13,200 units for $13.30 each, 1e Purchased 9.700 units for $6.50 each. 25 Sold 12,200 units for $12.30 each. 20 Purchased 5,300 units for $5.80 each. 31 Inventory on hand-9,600 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. ΠΡΟ LITO Average Cost would report in its August 2021 income statement using the Determine the inventory balance Atina would report in its August 31, 2021, balance sheet and the cost of goods sold method. Round "Cost per unit to 2 decimal places) Ending Inventory - Periode FIFO Cost of Goods Cou for Sale Cost of Goode Aval Cost of Goods Sold. Periode FO Cost Cost of Goode o t units sold cute course Sold 50.00 of inventory inventory ContEnding per un Inventory

please I need all three of them

Answer 1

FIFO
particular	unit	cost	total
inventory	3,300	6.6	21780
purchase:
Aug-08	16,500	6.8	112200
Aug-18	9,900	6.9	68310
Aug-28	5,300	5.8	30740
cost of goods available for sale	35,000		233030
cost of goods sold:
inventory	3,300	6.6	21780
Aug-08	16,500	6.8	112200
Aug-18	5,600	6.9	38640
cost of goods sold	25,400		172620
ending inventory	9,600		60410

LIFO
particular	unit	cost	total
inventory	3,300	6.6	21780
purchase:
Aug-08	16,500	6.8	112200
Aug-18	9,900	6.9	68310
Aug-28	5,300	5.8	30740
cost of goods available for sale	35,000		233030
cost of goods sold:
Aug-28	5,300	5.8	30740
Aug-18	9,900	6.9	68310
Aug-08	10,200	6.8	69360
cost of goods sold	25,400		168410
ending inventory	9,600		64620

Average cost
particular	unit	cost	total
inventory	3,300	6.6	21780
purchase:
Aug-08	16,500	6.8	112200
Aug-18	9,900	6.9	68310
Aug-28	5,300	5.8	30740
cost of goods available for sale	35,000		233030
cost of goods sold	25,400	6.658	169113.2
ending inventory	9,600		63916.8