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

August $1$

Inventory on hand$2,800$ units; cost $$6\mathrm{.}90$ each.

August $8$

Purchased $14,000$ units for $$6\mathrm{.}30$ each.

August $14$

Sold $11,200$ units for $$12\mathrm{.}80$ each.

August $18$

Purchased $8,400$ units for $$5\mathrm{.}80$ each.

August $25$

Sold $10,200$ units for $$11\mathrm{.}80$ each.

August $28$

Purchased $4,800$ units for $$5\mathrm{.}80$ each.

August $31$

Inventory on hand$8,600$ 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.