Check my work Altira Corporation provides the following Information related to its merchandise inventory during the month of August 2021 Aug. 1 Inventory on hand-3,700 units, cost $7.80 each. Purchased 18,500 units for $7.20 each 14 Sold 14,800 units for $13.78 each 18 Purchased 11,100 units for $6.40 each. 25 Sold 13,800 units for $12.70 each. 28 Purchased 5,700 units for $5.00 each. 31 Inventory on hand-19,400 units. 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 last-in, first-out (LIFO). Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Perpetual UFO Cost # of units Cost of Goods Cost per # of units #ofu Cost of of units Cost of Available for Sale Total Cost of sold per per unit Goods Sold sold endi unit Goods Sold Goods Sold inver Bog Inventory 3.700 7.80 28.800 $7.00 $ $7.805 Purchases August 10.600 7.20 133 200 720 7.20 Cost 0 0 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 last-in, first-out (LIFO). Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Perpetual Lif Cost of units per unit Cost of Goods Available for Sale # of units sold Cost Cost of per unit Goods Sold of units sold Cost per unit Cost of Total Cost of Goods Sold Goods Sold #ofun endi inver 3,700 57.00 5 28,000 $7.00 5 0 57.80 $ 0 Bug Inventory Purchases August August 18 August 2015 18.500 11,100 5,700 39.000 7.20 6.40 5.8 133 200 71,040 33,050 266,160 7.20 6.40 5.80 00 OOO 7.20 6.40 5.80 $ 0 $ 5 0 $ 0 termine the inventory balance Altira would report in its August 31, 2021. i August 2021 income statement using last-in, first-out (LIFO) ooth Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Cost Cost of per unit Goods Sold # of units sold Cost per unit Cost of Total Cost of Goods Sold Goods Sold Cost per # of units in ending inventory unit Ending Inventory $7.00 0 $ 7.805 0 $ 780 720 640 5.30 7.20 6.40 5.00 7.20 6.40 0 5.80 3 O O 5 5 0 $ 0