Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2016 Aug.1 Inventory on hand-2,400 units, cost $6.50 each. 8 Purchased 12,000 units for $5.90 each. 14 Sold 9,600 units for $12.40 each. 18 Purchased 7,200 units for $5.40 each. 25 Sold 8,600 units for $11.40 each. 31 Inventory on hanc-3,400 units