Required information Exercise 8-14 (Algo) Inventory cost flow methods; perpetual system [LO8-1, 8-4] [The following information applies to the questions displayed below.] Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-2,400 units; cost $6.50 each. August 8 Purchased 12,000 units for $5,90 each. August 14 Sold 9,600 units for $12.40 each. August 18 Purchased 7,200 units for $5.40 each. August 25 Sold 8,600 units for $11.40 each. August 28 Purchased 4,400 units for $5.80 each. August 31 inventory on hand-7, 800 units. Exercise 8-14 (Algo) Part 2 2. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31 , 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the Average cost method. Note: Round "Average Cost per Unit" to 2 decimal places