Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-2,300 units; cost $6.40 each. August 8 Purchased 11,500 units for $5.80 each. August 14 Sold 9,200 units for $12.30 each. August 18 Purchased 6,900 units for $5.00 each. August 25 Sold 8,200 units for $11.30 each. August 28 Purchased 4,300 units for $5.80 each. August 31 Inventory on hand-7,600 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. Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Cost of Perpetual FIFO: Number of Cost per units unit Goods Available for Number of units sold Cost per unit Cost of Goods Sold Number of units Cost per unit Cost of Goods Sold Total Cost of Goods Sold sold Sale Beginning Inventory 2,300 $6.40 $ 14,720 2,300 $ 6.40 $ 14,720 $ 6.40 $ 0 Number of units in inventory Inventory Bala Cost per unit $ 6.40 Purchases: August 8 11,500 5.80 66,700 5.80 5.80 5.80 August 18 6,900 5.00 34,500 5.00 0 5.00 5.00 August 28 4,300 5.80 24,940 5.80 0 5.80 5.80 Total 25,000 $ 140,860 2,300 $ 14,720 0 $ 0 $ 14,720 0 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. Inventory on hand Cost of Goods Sold Perpetual Average Number Number of units Cost per Inventory unit Value of units sold Average Cost per unit Cost of Goods Sold Number of units in inventory Inventory Balance Cost per unit Ending inventory Beginning Inventory Purchase August 8 - Sale August 14 Purchase - August 18 Sale August 25 Purchase August 28 Total 0 EA 0 0 0 0 0 0 0 0