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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-3,500 units cost $7.60 each. 8 Purchased 17,500 units for $7.00 each. 14 Sold 14,000 units for $13.50 each. 18 Purchased 10,50e units for $6.50 each. 25 Sold 13,000 units for $12.50 each. 28 Purchased 5,500 units for $5.80 each. 31 Inventory on hand-10,000 units. ORTERE Check my wor Required information balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method Cost of Goods Sold August 14 Cost of Goods Sold August 25 In Blanc Pero Cost of Goods Avtor Sale Cost of of units Cost per Goods Available for Sale 3.500 $ 7.60 $ 26.600 WOL units Cost Cost of w of units Cost per Goods Sold sold und Cost of Goods Sold Total Cost of Goods Sold # of units in inventory Cost per unit Ending Inventory sold $ 760 S 7605 0 $ 7.60 $ 0 0 Beg lewentory Purchases August August 18 August 28 Total 17,500 10.500 5,500 37.000 7.00 680 5.80 0 122,500 71,400 31.900 $ 252,400 7.00 6.80 5.00 7.00 6.80 5 80 7.00 680 580 0 0 0 $ 0 0 $ O 0 0 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 metho (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods Sold Inventory Balance Perpetual Average Cost per unit # of units Inventory Value of units Avg.Cost sold per unit Cost of Goods Sold Ending inventory # of units in Cost per inventory Beginning Inventory Purchase - August 8 3,500 $ 7.60 $ 17,500 $ 7.00 26,600 122,500 0 $ 14,000 Sale - August 14 Purchase - August 18 10,500 5 6.80 71,400 0 $ 0 13,000 Sale - August 25 Purchase - August 28 Total 5,500 $ 5.80 37,000 31,900 252 400 0 5 0 $ $