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.

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.

Inventory on hand Cost of Goods Sold Inventory Balance # of units in cost per Perpetual Average Inventory Value | # of units Avg.Cost per unit Goods Sold ending Ending inventory Cost of #0f units cost per| unit unit inventory Beginning Inventory Purchase August 8 Sale August 14 Purchase - August 18 Sale August 25 Total 6,200 4,100