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

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.) Inventory on hand Cost of Goods Sold Inventory Balance Perpetual Average Cost per # of units Inventory Value # of units Avg.Cost sold per unit unit Cost of Goods Sold # of units in Cost per inventory unit Ending inventory Beginning Inventory Purchase - August 8 0 $ 0 Sale - August 14 Purchase - August 18 0 $ Sale - August 25 Purchase - August 28 Total 0 $ 0 $ 0 0 $ 0 Check my work 2021: Aug.1 Inventory on hand2,800 units; cost $6.90 each. 8 Purchased 14,000 units for $6.30 each. 14 Sold 11,200 units for $12.80 each. 18 Purchased 8,400 units for $5.80 each. 25 Sold 10,200 units for $11.80 each. 28 Purchased 4,800 units for $5.80 each. 31 Inventory on hand-8,600 units. required: . 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. Inventory Balance Perpetual FIFO: Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Cost of Cost per Goods # of Cost per Cost of # of units Cost per Cost of # of units units unit Available for unit Goods Sold sold unit Goods Sold Sale sold 2,800 $ 6.90 $ 19,320 $ 6.90 0 $ 6.90 $ 0 Cost per Total Cost of Goods Sold # of units in inventory Endin Invent unit 0 $ 6.90 $ 6.30 6.30 Beg. Inventory Purchases: August 8 August 18 August 28 Total 14,000 8,400 6.30 5.80 88,200 48,720 27,840 6.30 5.80 0 0 5.80 5.80 5.80 5.80 0 0 5.80 5.80 21 4,800 30,000 4,800 4,800 $ 184,080 0 $ 0 0 0 $ 0 $ 0 $ 21