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

Aug.1	Inventory on hand3,100 units; cost $7.20 each.
8	Purchased 15,500 units for $6.60 each.
14	Sold 12,400 units for $13.10 each.
18	Purchased 9,300 units for $5.80 each.
25	Sold 11,400 units for $12.10 each.
28	Purchased 5,100 units for $5.80 each.
31	Inventory on hand9,200 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.