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 10,000 units for $5.50 each. 14 Sold 8,000 units for $12.00 each. 18 Purchased 6,000 units for $5.00 each. 25 Sold 7,000 units for $11.00 each. 31 Inventory on hand-3,000 units. 3. 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 Average cost methods. (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods Sold Perpetual Average Cost per unit # of units Inventory Value # of units Avg.Cost sold per unit Inventory Balance # of units in Cost per Ending ending unit inventory inventory Cost of Goods Sold 4,000 Beginning Inventory Purchase - August 8 Sale - August 14 Purchase - August 18 Sale - August 25 Total 3,000 $ 00 $ 0