Altira Corporation provides the following information related to its i (1).pdf
Altira Corporation provides the following information related to its .pdf
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Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-3,600 units; cost $6.10 each. August 8 Purchased 14,400 units for $6.30 each. August 14 Sold 10,800 units for $12.80 each. August 18 Purchased 10,800 units for $6.40each. August 25 Sold 12,600 units for $11.80 each. August 28 Purchased 7,200 units for $6.60each. August 31 Inventory on hand-12,600 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31,2024 , balance sheet and the cost of goods sold it would report in its August 2024 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, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the LIFO method. cost method. Note: Round "Average Cost per Unit" to 2 decimal places..
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Altira Corporation provides the following information related to its .pdf
- Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-3,600 units; cost $6.10 each. August 8 Purchased 14,400 units for $6.30 each. August 14 Sold 10,800 units for $12.80 each. August 18 Purchased 10,800 units for $6.40each. August 25 Sold 12,600 units for $11.80 each. August 28 Purchased 7,200 units for $6.60each. August 31 Inventory on hand-12,600 units. Required: Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31,2024 , balance sheet and the cost of goods sold it would report in its August 2024 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, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the LIFO method. cost method. Note: Round "Average Cost per Unit" to 2 decimal places.