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

August 1	Inventory on hand2,000 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 hand7,000 units.

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.

\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Perpetual Average } & \multicolumn{3}{|c|}{ Inventory on hand } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Inventory Balance } \\ \hline & \begin{tabular}{l} Number \\ of units \end{tabular} & \begin{tabular}{c} Cost per \\ unit \end{tabular} & \begin{tabular}{c} Inventory \\ Value \end{tabular} & \begin{tabular}{c} Number \\ of units \\ sold \end{tabular} & \begin{tabular}{c} Average \\ Cost per \\ unit \end{tabular} & \begin{tabular}{c} Cost of \\ Goods Sold \end{tabular} & \begin{tabular}{l} Number of \\ units in \\ inventory \end{tabular} & \begin{tabular}{c} Cost per \\ unit \end{tabular} & \begin{tabular}{c} Ending \\ inventory \end{tabular} \\ \hline \multicolumn{10}{|l|}{ Beginning Inventory } \\ \hline \multicolumn{10}{|l|}{ Purchase - August 8} \\ \hline & & & & & & & & & \\ \hline \multicolumn{10}{|l|}{ Sale - August 14} \\ \hline \multicolumn{10}{|l|}{ Purchase - August 18} \\ \hline & & & & & & & & & \\ \hline \multicolumn{10}{|l|}{ Sale - August 25} \\ \hline \multicolumn{10}{|l|}{ Purchase - August 28} \\ \hline Total & & & & & & & & & \\ \hline \end{tabular}