Required information Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018 Aug. 1 Iventory on hand 3, 700 umits; cost $7. 20 each. 8 Purrchased 13, 500 nits for 37. 20 each. 14 Sold 14, 800 units for $13.70 gach. 18 Purchased 11, 100 units for $6.40 each 25 Sold 13, 800 units for $12.70 each. 31 Inentory on hand -4, 700 units. 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 cost per!Goods Perpetual LIFO: | # of units Ending Inventory # of Cost per Cost of | # of units Cost per unit Cost of vailable for units sold Sold sold unit Goods Sold in ending Cost per unit inventory Sale Beg. Inventory $ 0.00S $ 0.00 S S 0.00 Purchases: August 8 August 18 0.00 0.00 0.00 0.00 0.00 0.00 Total