Mowing 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-2,500 units; cost $6.60 each. 8 Purchased 12,500 units for $6.00 each. 14 Sold 10,000 units for $12.50 each. 18 Purchased 7,500 units for $5.20 each. 25 Sold 9,000 units for $11.50 each. 28 Purchased 4,500 units for $5.80 each. 31 Inventory on hand-8,000 units. 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 Perpetual FIFO: Cost of Goods Sold - August 25 W of units Cost per Cost of Goods Available for Sale Cost of Goods unit Available for Salo 2,500 of units Cost per unit Cost of Goods Sold of units Cost per sold sold unit Cost of Goods Sold Total Cost of Goods Sold #ofu in Inver $ 0.00 $ Beg. Inventory Purchases: August 8 August 18 0.00 $ 0 st 12,500 7,500 6.00 5.20 75,000 39,000 6.00 5.20 0 6.00 5.20 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 Perpetual Average Cost of Goods Sold # of units Avg.Cost Cost of sold Goods Sold # of units Cost per Inventory Balance # of units in Cost per Ending inventory unit inventory Inventory Value unit per unit Beginning Inventory Purchase - August 8 Sale - August 14 Purchase - August 18 Sale - August 25 Purchase - August 28 Total