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-2,400 units; cost $6.50 each. 8 Purchased 12,000 units for $5.90 each. 14 Sold 9,600 units for $12.40 each. 18 Purchased 7,200 units for $5.40 each. 25 Sold 8,600 units for $11.40 each. 28 Purchased 4,400 units for $5.80 each. 31 Inventory on hand-7,800 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 fast-in, first-out (LIFO). Cost at Goods Available for Sale Cost of Goods Bold August 14 Cost of Goods Sold August 25 Inventory Balance Perpetual LED of units Cost per unit Cost of Goods Available for Sale of units Cost Cost of sold per unit Goods Sold of units sold Cest per unit Cost of Goods Sold Total Cast of Goods Sold of units in ending inventory Cost per unit Ending Inventory 2.400 56505 15,600 05 6.50 $ 0 36.50 $ 0 $ 6.50 Beg Inventory Purchases August August 18 August 28 Total 5.90 5.40 417,720 2,464,548 0 12,000 7.200 6400 26.000 5.90 5.40 5.60 70,800 38.380 25,520 150.000 5.90 5.40 5.90 5.40 5.80 5.80 0 $ 2,464,548 $ 417.720 0 3 $ 2,464,548 3