Required information [The following information applies to the questions displayed below.] Altira Corporation provides t

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Required Information The Following Information Applies To The Questions Displayed Below Altira Corporation Provides T 1 (191.05 KiB) Viewed 5 times

Required information [The following information applies to the questions displayed below.] Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-3,600 units; cost $7.70 each. 8 Purchased 18,000 units for $7.10 each. 14 Sold 14,400 units for $13.60 each. 18 Purchased 10,800 units for $6.60 each. 25 Sold 13,400 units for $12.60 each. 28 Purchased 5,600 units for $5.80 each. 31 Inventory on hand-10,200 units. 2. Using calculations based on a perpetual 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 the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Perpetual Average Beginning Inventory Purchase - August 8 Sale - August 14 Purchase - August 18 Sale - August 25 Purchase - August 28 Total Inventory on hand Cost per unit 3,600 $ 7.70 18,000 $ 7.10 # of units 10,800 $ 6.60✔ 5,600 $ 5.80 38,000 Inventory Value $ 27,720 127,800 71,280 32,480 259,280 Answer is complete but not entirely correct. Cost of Goods Sold # of units sold 14,400 13,400 Avg.Cost per unit $ Cost of Goods Sold 7.10 $ 102,240 $ 6.60 X 88,440 190,680 Inventory Balance # of units in inventory 3,600 Cost per unit $ 7.70 $7.10 18,000 21,600 7,200 $ 7.10 10,800 $ 6.60 18,000 4,600 $ 6.60 5,600 $ 5.80 10,200 Ending inventory $ 27,720 $ $ 127,800 $ 155,520 51,120 $71,280 $ 122,400 30,360 32,480 62,840 $ $ $