Required information 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-2,000 units; cost $6.10 each. 8 Purchased 10,e00 units for $5.50 each. 14 Sold 8,000 units for $12.00 each. 18 Purchased 6,e00 units for $5.00 each. 25 Sold 7,000 units for $11.0 each. 31 Inventory on hand-3,000 units