$!$

Required information

$[$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$-3,600$ units; cost $$7\mathrm{.}70$ each.

August $8$ Purchased $18,000$ units for $$7\mathrm{.}10$ each.

August $14$ Sold $14,400$ units for $$13\mathrm{.}60$ each.

August $18$ Purchased $10,800$ units for $$6\mathrm{.}60$ each.

August $25$ Sold $13,400$ units for $$12\mathrm{.}60$ each.

August $28$ Purchased $5,600$ units for $$5\mathrm{.}80$ each.

August $31$ Inventory on hand $-10,200$ units.

Required:

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 FIFO method.