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-2,700 units; cost 56.80 each. 8 Purchased 13, see units for $6.20 each. 14 Sold 10,8o0 units for $12.70 each. 18 Purchased 8,100 units for $5.60 each. 25 Sold 9,800 units for $11.70 each. 28 Purchased 4,700 units for $s.se each. 31 Inventory on hand-8,400 units. Exercise 8-14 (Algo) Part 1 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. Cost of Goods Available for Sale Cost of Goods Sold-August 14 Cost of Goods Sold- August 25 Invents Cost of Goods Perpetual FIFO: # of units sold Cost per unit Cost per unit Cost of Goods Sold of units Cost per sold of units # of units Cost of Goods Sold Total Cost of Goods Sold Cos Available for Sale in ending inventory unit Beg Inventory 2.700s 6 80 S 2.700 S 18.360 6 80 18.360 6 80 Required information 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-2,7e0 units; cost $6.80 each. 8 Purchased 13, 500 units for $6.20 each. 14 Sold 10,8e0 units for $12.70 each. 18 Purchased 8,100 units for $5.60 each. 25 Sold 9,80e units for $11.70 each. 28 Purchased 4,700 units for $5.80 each. 31 Inventory on hand-8,400 units. Exercise 8-14 (Algo) Part 2 2. 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 Average cost method. (Round "Average Cost per Unit" to 2 decimal places.)