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-3,700 units; cost $7.80 each. August 8 Purchased 18,500 units for $7.20 each. August 14 Sold 14,800 units for $13.70 each. August 18 Purchased 11,100 units for $6.40 each. August 25 Sold 13,800 units for $12.70 each. August 28 Purchased 5,700 units for $5.80 each. August 31 Inventory on hand-10,400 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