Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018:

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.
31	Inventory on hand4,100 units.

Required: 1. 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 FIFO method.

Cost of Goods Available for Sale Cost of Goods Sold August 14 Cost of Goods Sold-August 25 Inventory Balance Cost of #of units # of units #of Cost per units Ending Inventory Cost per | Cost of unitGoods Sold sold | # of units cost per unit cost of Goods Sold in ending inventory Cost per unit unit Available for Sale Beg. Inventory $ 0.00 $ 0.00S $ 0.00$ Purchases August 8 August 18 0.00 0.00 0.00 0.00 0.00 0.00 Tota