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[The following information opplies to the questions displayed below] Alira Corporation provides the following information related to its inventory during the month of August 2024 Nagust 1 Inveatory on hand 3,600 units cont 57.70 each: Magust 8 Furchased 18, 000 units for $7,10 each. Bugust 14 Sold 14,400 unite for 513.60 each. Augunt 18 Parchased 10,800 units for $6+50 esch. August 25 Bold 13,400 units for 512.60 each. August 28 Farchased 5,600 uslts for 55 . 80 each. Auguat 31 Inventory on haed 10,200 uaits. Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31 , 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the FIFO method