For Perpetual Average

Required information Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018 Aug.1 Inventory on hand-3,100 units; cost $7.20 each 8 Purchased 15,500 units for $6.60 each. 14 Sold 12,400 units for $13.10 each 18 Purchased 9,300 units for $5.80 each. 25 Sold 11,400 units for $12.10 each 31 Inventory on hand-4,100 units