calculate the number of units sold and number of units in inventory using FIFO

Exercise 8-14 (Algo) Inventory cost flow methods: perpetual system (LO8-1, 8-4] [The following information applies to the questions displayed below.) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug. 1 Inventory on hand-3,300 units; cost $7.40 each. 8 Purchased 16,500 units for $6.80 each. 14 Sold 13,200 units for $13.30 each. 18 Purchased 9,900 units for $6.20 each. 25 Sold 12,200 units for $12.30 each. 28 Purchased 5,300 units for $5.80 each. 31 Inventory on hand-9,680 units. 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 Contol Goods Available for Sale Cost of Goods Sold August 14 Cost of Goods Sold August Portal.FIED # of units Cost per #of units sold Cost per Cost of Goods unit Available for Sale 3,300 5 7405 24.420 of units Cost per Cont of Goods Sold unit sold Cost of Goods Sold Total Cost of Goods Sold of units in Inventory $ 7.40 $ 7.40 $ 0 $ Beg Inventory Purchases August 8 August 18 August 28 Total 16,500 9,900 5,300 35,000 6.80 6.20 5.00 0 112.200 61,380 30,740 $ 228,740 680 620 5.80 6.80 6.20 530 0 0 0 $ 0 5 05 Cost of Good Available for Sale Cost of Goods Sold August 14 Cost of Goods Sold August 25 Cost of Wor of units Goods units Cost of unit W of units Cost per Contot Available for sold unit Goods Sold sold Goods Sold Sale 3,300 $ 7.40 $ 24,4201 $ 7.40 5 7.40 0 Cost per Cost per Total Cost of Goods Sold Instity Balance Hof units Encing inventory Cost per $ 7405 0 0 16,500 9,900 5,300 35,000 6.80 620 5.80 112 200 61.380 30.740 5 228,740 6.80 6.20 5.30 0 6.80 6.20 5.80 6.80 6.20 580 0 0 0 $ 0 $ os 5 0