Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-3,200 units; cost $7.30 each. August 8 Purchased 16,000 units for $6.70 each. August 14 Sold 12,800 units for $13.20 each. August 18 Purchased 9,600 units for $6.20 each. August 25 Sold 11,800 units for $12.20 each. August 28 Purchased 5,200 units for $5.80 each. August 31 Inventory on hand-9,400 units. Required: 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. Cost of Goods Sold - August 25 Cost of Goods Available for Sale Cost of Goods Sold - August 14 Inventory Balance Perpetual FIFO: Number of Cost per units i unit Cost of Goods Available for Sale Number of units Cost per unit Cost of Goods Sold Number of units Number of Cost per unit Cost of Goods Sold Total Cost of Goods Sold units in Cost per Ending unit sold sold Inventory inventory Beginning Inventory 3,200 $ 7.30 $ 23,360 $ 7.30 $ 7.30 $ 0 $ 7.30 $ Purchases August 8 16,000 6.70 107,200 6.70 6.70 6.70 August 18- 9,600 6.20 59,520 620 6.20 6.20 August 28 5,200 5.80 30,160 5.80 0 5.80 5.80 Total 34,000 $ 220,240 0 $ $ $ $