Altira Corporation provides the following information related to its inventory during the month of August 2024 : August 1 Inventory on hand 2,000 units; cost $5.30 each. August 8 Purchased 8,000 units for $5.50 each. August 14 sold 6,000 units for $12,00 each. August 18 Purchased 6,000 units for $5.60 each. August 25 sold 7,000 units for $11.00 each. August 28 Purchased 4,000 units for $5.80 each. August 31 Inventory on hand-7,000 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)