Required informatio 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-2,600 units; cost $6.70 each. 8 Purchased 13,000 units for $6.10 each. 14 Sold 10,400 units for $12.60 each 18 Purchased 7,800 units for $5.60 25 Sold 9,400 units for $11.60 each 31 Inventory on hand-3,600 units. each 2. Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using the LIFO method. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold- August 14 Cost of Goods Sold - August 25 Inventory Balance Cost of Goods # of units Perpetual LIFO: Cost per # of units Cost per Cost of | # of units Goods Soldsold Cost per unit Cost of Goods Sold I in ending inventory End Inve unit Available for le for units Cost unit unit Sale Beg. Inventory 2,600 6.70$ 17,420 2,600$6.70$ 17,420 $6.70$ $ 6.70 Purchases August 8 August 18 13,000 7,800 23,400 15,860 29,120 $ 62,400 6.10 6.10 6.10 6.10 79,3002,600 43,680 5,200 $ 140,400 10,400 5.60 5.60 5.60 5.60 Total