fine following informauon appies 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-3,000 units; cost $7.10 each. 8 Purchased 15,000 units for $6.50 each. 14 Sold 12,000 units for $13.00 each 18 Purchased 9,000 units for $6.00 each 25 Sold 11,000 units for $12.00 each. 28 Purchased 5,000 units to $5.80 each. 31 Inventory on hand-9.000 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 Sold - August 14 Cost of Goods Sold - August 25 In vente Perpetual FIEO Cost of Goods Available for Sale Cost of of units Cost per Goods unit Available for Sale 3000 5 7105 21.300 dol units sold Cost per unit Cost of of units Cost per Goods Sold sold unit Cost of Goods Sold Total Cost of Goods Sold Beglventory #of units Cos in inventory 3.000 $ 3.000 7.105 21.300 os 7.10 0