Altira Corporation provides the following information related to its inventory during the month of August $2024$:August $1$Inventory on hand$2,500$ units; cost $$6\mathrm{.}60$ each.August $8$Purchased $12,500$ units for $$6\mathrm{.}00$ each.August $14$Sold $10,000$ units for $$12\mathrm{.}50$ each.August $18$Purchased $7,500$ units for $$5\mathrm{.}20$ each.August $25$Sold $9,000$ units for $$11\mathrm{.}50$ each.August $28$Purchased $4,500$ units for $$5\mathrm{.}80$ each.August $31$Inventory on hand$8,000$ units.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 last$-$in$,$ first$-$out $($LIFO$).$