2. AVCBC Cost AB d E 8-15 LIFO, perpetual system LO8-1, L08-4 [This is a variation of E 8-14 modified to focus on LIFO in a perpetual inventory vyuteen.) Altira Corporation provides the following information related to its merchandise inventory during the month of Aaput 2001: Ang 1 Inventory on hand-2,000 units; cout $5.30 cach 8 Purchased 8,000 units for $5.50 each 14 Sold 6,000 units for $12.00 cach 18 Purchased 6,000 units for $5.60 each. 25 Sold 7.000 units for $11.00 each. 28 Purchased 4,000 units for $5.00 each 31 Inventory on hand-7,000 units Required: Using calculations based on a perpetual inventory system, determine the inventory balance Altire would report in its August 31, 2021, bloc sheet and the cost of goods sold it would report in its August 2021 income statement ning lastin, firstout (LIFO). odic system