Required information [The following information applies to the questions displayed below] Altiro Corporation provides the following information related to its inventory during the month of August 2024 : August I Inventory on hand-3, 800 units; cost $7.90 each. August o Purchased 19,000 units for $7.30 each. August 14 sold 15,200 units for $13,80 each. August 18 Purchased 11,400 units for $6,80 each. August 25 sold 14,200 unats for $12.80 each. August 28 Purchased 5,000 units for $5.80 each. August 31 Inventory on hand-10,600 units. Required: 1. Using caiculations based on a perpetual inventory system, determine the inventory balance Aitira 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