Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug. 1 Inventory on hand-2,000 units; cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 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, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using last-in, first-out (LIFO). Cost of Goods Sold - August 25 Inventory Balance Perpetual LIFO: Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of # of # of Cost per Goods units Cost of units unit Available for unit sold Goods Sold Sale 2,000 $ 5.30 $ 10,600 $ 5.30 Cost per Cost per # of units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in ending inventory Ending Inventory unit $ 5.30 $ 5.30 5.50 5.50 Beg. Inventory Purchases: August 8 August 18 August 28 Total 8,000 6,000 4,000 20,000 5.50 5.60 5.80 44.000 33,600 23,200 5.50 5.60 5.80 5.60 5.60 5.80 5.80 $ 111,400