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 hand7,000 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 Available for Cost of Goods Sold - August 14 Sale Cost of Goods Sold - August 25 Inventory Balance Cost of Perpetual LIFO: # of # of Cost per Goods # of units Cost per Cost of # of units Cost per Cost of units Total Cost of Cost per Ending units unit Available for unit Goods Sold sold unit Goods Sold in ending Goods Sold unit sold inventory Inventory Sale Beg. Inventory 2,000 $ 5.30 $ 10,600 $ 5.30 $ 0 $ 5.30 $ 0 $ 5.30 Purchases: August 8 8,000 5.50 44,000 5.50 5.50 5.50 August 18 6,000 5.60 33,600 5.60 0 1 5.60 5.60 0 5.80 23,200 5.80 0 5.80 5.80 0 Total 20,000 $ 111,400 0 $ 0 0 $ 0 $ 0 0 $ 0 August 28 4,000