Altira Corporation uses a perpetual Inventory system. The following transactions affected its merchandise inventory during the month of August 2018: Aug. Inventory on hand-2,400 units cost $6.50 each. 8 Purchased 12,000 units for $5.99 each. 14 Sold 9.600 units for $12.40 each. 18 Purchased 7,200 units for $5.00 each 25 Sold 8,600 units for $11.40 each. 31 Inventory on hand-3.000 units. Exercise 8-14 Part 3 3. Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods sold Perpetual etage laot walk Cost per inventory of units in como of units sold ava.Cost por unit Costot Goods Sold I Inventory Being inventory Purchase August Sale - August 14 Purchase August 18 Salut 25 4.800