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-3,200 units; cost $7.30 each. 8 Purchased 16,000 units for $6.70 each. 14 Sold 12,800 units for $13.20 each. 18 Purchased 9,600 units for $6.20 each. 25 Sold 11,800 units for $12.20 each. 28 Purchased 5,200 units for $5.80 each. 31 Inventory on hand-9,400 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.) Inventory on hand Cost of Goods Sold Inventory Balance Perpetual Average Cost per # of units Inventory Value # of units sold Avg.Cost per unit Cost of Goods Sold of units in ending inventory Cost per unit Ending inventory unit Beginning Inventory Purchase - August 8 Sale - August 14 Purchased 16,000 units for $6.70 each. 14 Sold 12, 800 units for $13.20 each. 18 Purchased 9,600 units for $6.20 each. 25 Sold 11,800 units for $12.20 each. 28 Purchased 5,200 units for $5.80 each. 31 Inventory on hand-9.400 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.) Inventory on hand Cost of Goods Sold Perpetual Average Cost per # of units Inventory Value unit Inventory Balance # of units in Cost per Ending ending unit Inventory Inventory # of units Avg.Cost sold per unit Cost of Goods Sold Beginning Inventory Purchase - August 8 Sale - August 14 Purchase - August 18 Sale - August 25 Purchase - August 28 Total $ 0 0