Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021:

Aug.1	Inventory on hand2,400 units; cost $6.50 each.
8	Purchased 12,000 units for $5.90 each.
14	Sold 9,600 units for $12.40 each.
18	Purchased 7,200 units for $5.40 each.
25	Sold 8,600 units for $11.40 each.
28	Purchased 4,400 units for $5.80 each.
31	Inventory on hand7,800 units.

1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method.

2. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.)

Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Perpetual FIFO: # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit | Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 0.00 $ 0.00 $ 0 $ 0.00 $ 0 1 01 Beg. Inventory Purchases: August 8 August 18 August 28 Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 | $ $ 0 0 $ 0 $ 0 0 0 Inventory on hand Cost of Goods Sold Inventory Balance Perpetual Average # of units Cost per Inventory Value # of units Avg.Cost sold per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending inventory Beginning Inventory Purchase - August 8 0 $ 0 Sale - August 14 Purchase - August 18 $ Sale - August 25 Purchase - August 28 Total $ 0 0 $ 0