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.

Part 2. 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 Average cost method. Note: Round "Average Cost per Unit" to 2 decimal places.