Altira Corporation provides the following information related to its inventory during the month of August 2024 : August 1 Inventory on hand-2,900 units; cost $7.00 each. August 8 Purchased 14,500 units for $6.40 each. August 14 sold 11,600 units for $12.90 each. August 18 Purchased 8,700 units for $6.00 each. August 25 sold 10,600 units for $11.90 each. August 28 Purchased 4,900 units for $5.80 each. August 31 Inventory on hand-8,800 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)