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Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021:

Aug.1	Inventory on hand2,700 units; cost $6.80 each.
8	Purchased 13,500 units for $6.20 each.
14	Sold 10,800 units for $12.70 each.
18	Purchased 8,100 units for $5.60 each.
25	Sold 9,800 units for $11.70 each.
28	Purchased 4,700 units for $5.80 each.
31	Inventory on hand8,400 units.

Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method.

! Required information [The following information applies to the questions displayed below.] Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand2,700 units; cost $6.80 each. 8 Purchased 13,500 units for $6.20 each. 14 Sold 10,800 units for $12.70 each. 18 Purchased 8,100 units for $5.60 each. 25 Sold 9,800 units for $11.70 each. 28 Purchased 4,700 units for $5.80 each. 31 Inventory on hand-8,400 units. Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method. 'equired: . Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2021, alance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method. Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Perpetual FIFO: Cost of Goods Available for Sale Cost of Goods # of units unit Available for Sale Cost per Cost per Cost per # of units sold Cost of Goods Sold # of units sold Cost per unit Cost of Goods Sold Total Cost of Goods Sold # of units in inventory Ending Invento unit unit Beg. Inventory 2,700 $ 6.80 $ 18,360 6.80 6.80 $ 0 $ 6.80 $ Purchases: 6.20 6.20 6.20 6.20 5.60 5.60 0 5.60 5.60 August 8 August 18 August 28 Total 13,500 8,100 4,700 29,000 83,700 45,360 27,260 $ 174,680 5.80 5.80 0 5.80 5.80 0 $ 0 0 $ 0 $ 0 0 $