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Required information [The following 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, 100 units; cost $6.20 each. 8 Purchased 10,500 units for 55.60 each. 14 Sold 8,400 units for $12.10 each 18 Purchased 6,300 units for $5.40 each. 25 Sold 7,400 units for $11.10 each. 28 Purchased 4, 100 units for $5.88 each. 31 Inventory on hand-7,200 units. Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altra 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 Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altra would report in August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method Answer is complete but not entirely correct. Costos Available for Cost of Goods Sold August 14 Cost of Good Son August 35 moventory tual Cost For units De of units molil Cost of Goods Available for Sale S15020 Cost per un Cost of Goods Sold or units sold Cost Cost of Goods Sold Total Cost of Goods Sold of units inventory Cost per Ending 2.100 5620 2.100 620 $ 13,020 0 620 8 0 2,100's 620 313,020 Dog Inventory Purchases August August 10 August 24 Total 10.500 0 500 22,960 500 10.500 6300 4100 23 000 5160 5.40 5.00 550 5.40 580 4100 o 16.000 2100 58.000 34020 22.780 $ 129-620 30 58,300 0 0 5 71,820 10000 4000 003 9.100 5.00 5.00 12.600 4100 5 22560 15 94.700 51.00