Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-2,200 units; cost $6.30 each. 8 Purchased 11,000 units for $5.70 each. 14 Sold 8,800 units for $12.20 each. 18 Purchased 6,600 units for $5.20 each. 25 Sold 7,800 units for $11.20 each. 28 Purchased 4,200 units for $5.80 each 31 Inventory on hand-7,400 units. Required: 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. 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 of units Cost per unit Cost of Goods Sold #of units sold Cost per unit Cost of Goods Sold Total Cost of Goods Sold of units in ending Inventory Cost per unit Ending Inventory 2200 $ 6.30 $ 13,860 2,200 $ 6.30 $ 13,860 O $ 630 S 0 $ 6.30 $ 0 570 Beg Inventory Purchases August 8 August 18 August 28 Total 5 11,000 6600 6 600 4.2001 24,000 5.70 5201 520 580 S 520 62,700 34 320 320 24 380 135,240 5.70 520 30 580 5.70 5.20 5 80 0 0 13.8600 2.200 $ 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 Perpetual Average Cost of Goods Sold # of units Avg. Cost Cost of sold per unit Goods Sold Inventory Value Inventory Balance of units in Cast per ending Ending inventory inventory unit # of units Cost per unit Beginning Inventory Purchase - August 8 Sale - August 14 Purchase - August 18 Sale - August 25 Purchase - August 28 Total