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Business, 20.02.2020 22:23 emmaja121003

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 $6.90 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 $7.20 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.

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 2011.

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