4 Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: 10 points Aug.1 Inventory on hand-2,000 units; cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 units. eBook 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 last-in, first-out (LIFO). 101 Hint Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Perpetual LIFO: Cost per Cost of Goods Available for Cost per Cost per Cost per # of units Print # of units sold Cost of Goods Sold # of units sold Cost of Goods Sold Total Cost of Goods Sold Ending Inventory unit # of units in ending inventory unit unit unit Sale 2,000 $ 5.30 $ 10,600 0 $ 5.30 $ 0 0 $ 5.30 $ 0 $ 5.30 References 5.50 6,000 5.50 33,000 0 5.50 5.50 Beg. Inventory Purchases: August 8 August 18 August 28 Total 5.60 0 5.60 0 0 5.60 5.60 8,000 6,000 4,000 20,000 44,000 33,600 23,200 111,400 5.80 0 5.80 0 0 5.80 5.80 Ooo $ 6,000 $ 33,000 0 $ 0 $ 33,000 $