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Altira Corporation provides the following information related to its inventory during the month of August $2024$: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.

$\backslash$table$[[$Perpetual FIFO:,Cost of Goods Available for Sale,Cost of Goods Sold $-$ August $14,$Cost of Goods Sold $-$ August $25,\backslash$table$[[$Total Cost of$],[$Goods Sold$]],$Inventory Balance$],[\backslash$table$[[$Number of$],[$units$]],\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Cost of$],[$Goods$],[$Available for$],[$Sale$]],\backslash$table$[[$Number$],[$of units$],[$sold$]],\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Cost of$],[$Goods Sold$]],\backslash$table$[[$Number$],[$of units$],[$sold$]],\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Cost of$],[$Goods Sold$]],\backslash$table$[[$Number of$],[$units in$],[$inventory$]],$Co$,,\backslash$table$[[$End$],[$Inver$]]],[$Beginning Inventory,$3,300,$$$7\mathrm{.}40,24,420,,7\mathrm{.}40,,,7\mathrm{.}40,,,,$$$,7\mathrm{.}40,],[$Purchases:$],[$August $8,16,500,6\mathrm{.}80,112,200,,6\mathrm{.}80,,,6\mathrm{.}80,,,{\displaystyle \underset{\phantom{}}{\overset{\phantom{}}{}}},,6\mathrm{.}80,]]$