Exercise 8-15 (Algo) LIFO; perpetual system (LO8-1, 8-4) 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 $6.80 each. 8 Purchased 13,500 units for $6.20 each. 14 Sold 10,800 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 $5.80 each. 31 Inventory on hand-8,400 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 LIFO: Cost per Cost of Goods Available for Sale # of units # of units sold Cost Cost of per unit Goods Sold # of units sold Cost per unit Cost of Goods Sold unit 2,700 sto $ $ 6.80 0 $ $ 6.80 $ 18,360 0 6.20 83,700 6.20 6.20 Beg. Inventory Purchases: August 8 August 18 August 28 Total 5.60 5.60 13,500 8,100 4,700 29,000 45,360 27,260 174,680 5.60 5.80 5.8 OOO 5.80 o $ $ 0 0 $ ust 25 Inventory Balance st of ds Sold Total Cost of Goods Sold Cost per # of units in ending inventory Ending Inventory unit 0 $ 6.80 6.20 5.60 0 5.80 0 0 0 $ 0