Altira Corporation provides the following information related to its inventory during the month of August 2024:

August 1	Inventory on hand4,000 units; cost $8.10 each.
August 8	Purchased 20,000 units for $7.50 each.
August 14	Sold 16,000 units for $14.00 each.
August 18	Purchased 12,000 units for $7.00 each.
August 25	Sold 15,000 units for $13.00 each.
August 28	Purchased 6,000 units for $5.80 each.
August 31	Inventory on hand11,000 units.

1. Using calculations based on a perpetual 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 the FIFO method.

\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow{3}{*}{\begin{tabular}{l} Perpetual FIFO: \\ Beginning Inventory \\ \end{tabular}} & \multicolumn{5}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{5}{|c|}{ Cost of Goods Sold - August 14} & \multicolumn{4}{|c|}{ Cost of Goods Sold - August 25} & & \multicolumn{3}{|c|}{ Inventory Balance } \\ \hline & \multirow{2}{*}{\begin{tabular}{|r|} \begin{tabular}{c} Number of \\ units \end{tabular} \\ 4,000 \\ \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost per \\ unit \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost of \\ Goods \\ Available for \\ Sale \end{tabular}} & \multirow{2}{*}{\begin{tabular}{|c|} \begin{tabular}{c} Number \\ of units \\ sold \end{tabular} \\ 4,000 \\ \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} Cost per \\ unit \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost of \\ Goods Sold \end{tabular}} & \multirow[t]{2}{*}{\begin{tabular}{c} Number \\ of units \\ sold \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost per \\ unit \end{tabular}} & \begin{tabular}{c} Cost of \\ Goods Sold \end{tabular} & \begin{tabular}{l} Total Cost of \\ Goods Sold \end{tabular} & \multirow[t]{2}{*}{\begin{tabular}{l} Number of \\ units in \\ inventory \end{tabular}} & \begin{tabular}{l} Cost per \\ unit \end{tabular} & \multirow[t]{2}{*}{\begin{tabular}{c} Ending \\ Inventory \end{tabular}} \\ \hline & & $ & 8.10 & $ & 32,400 & & $ & 8.10 & $ & 32,400 & & $ & 8.10 & $ & & & 8.10 & \\ \hline \multicolumn{19}{|l|}{ Purchases: } \\ \hline August 8 & 20,000 & & 7.50 & & 150,000 & 12,000 & & 7.50 & & 90,000 & & & 7.50 & & & & 7.50 & \\ \hline August 18 & 12,000 & & 7.00 & & 84,000 & 0 & & 7.00 & & 0 & & & 7.00 & & & & 7.00 & \\ \hline August 28 & 6,000 & & 5.80 & & 34,800 & & & 5.80 & & 0 & & & 5.80 & & & & 5.80 & \\ \hline Total & 42,000 & & & $ & 301,200 & 16,000 & & & $ & 122,400 & & & & $ & 122,400 & & & \\ \hline \end{tabular}