please leave a detail elaboratation, I need to genuinely understand how to do problems and calculations like this! (it has two parts)

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-2,000 units: cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 unita for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 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 25 Perpetual FIFO: Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of #of Cost per Goods of Cost per Cost of units units unit Available for sold unit Goods Sold Sale 2,000 $ 5.30 $ 10.600 $ 5.30 # of units Cost per sold Inventory Balance of units Cost per Ending Inventory Inventory $ 5.30 Cost of Total Cost of Goods Sold Goods Sold unit unit $ 5.30 Beg Inventory Purchases: August August 18 August 28 Total 8,000 6,000 4,000 20.000 5.50 5.60 5.80 44.000 33.600 23,200 5.50 5.60 5.80 5.50 5.60 5.80 5.50 5.60 5.80 $ 111,400 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-2,000 units; cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 units. 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.) Perpetual Average Inventory on hand # of units Cost per Inventory unit Value Cost of Goods Sold # of units Avg. Cost Cost of sold per unit Goods Sold Inventory Balance # of units in Cost per Ending Inventory unit inventory Beginning Inventory Purchase - August 8 0 0 Sale - August 14 Purchase. August 18 0 $ 0 Sale - August 25 Purchase - August 28 Total 0 $ 0 $ 0 0 $ 0