Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-3,600 units cost $7.70 cac 8 Purchased 18,000 units for $7.10 each. 14 Sold 14,400 units for $13.60 each 18 Purchased 10,800 units for $6.60 each. 25 Sold 13, 400 units for $12.60 each. 28 Purchased 5,600 units for $5.80 each. 31 Inventory on hand-10,200 units. 14 Sold 14.400 units for $13.50 ch. Purchased 10.800 units for $6.60 each 25 Sold 13.400 units for $12.50 each. 28 Marchased 5.600 units for $5.80 each 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 Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Perpetual FIFO: Cost of Goods Available for Sale Cost of of units Cost per Goods un Available for Cost per unit Cost of Goods Bold of units Cost per sold un cost of Goods Sold Total Cost of Goods Sold ised Cost per sold Inventory 3.600 7.70 5 27,720 $ 7.70 $ 7.70 S Beg Inventory Purchases August August 18 August 28 Total 7.10 500 9 5 18 000 10.500 ,000 38.000 710 6.50 580 1 2700 71200 2.480 250.200 $ 0