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 hand-3,900 units; cost $8.ee each. Purchased 19,500 units for $7.40 each. 14 Sold 15,6ee units for $13.90 each. 18 Purchased 11,700 units for $6.60 each. 25 Sold 14,600 units for $12.99 each. 28 Purchased 5,908 units for $5.80 each 31 Inventory on hand-10,800 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: 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 an 2 of 2 Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Peristul FIFO Cont of Goods Available for Sale Cost of #ol units Goods unit Available for Sale 3.000 S 8.00 $ 31.200 Cost per #of units sold Cost per #of unit Cost of # of units Cost per Goods Sold gold unit Cost of Goods Sold Total Cost of Goods Sold iny 5 8.00 $ 8.00 $ 0 Beg Inventory Purchase AMB August 18 August 20 Total 19,500 11,700 5.000 41.000 7.40 6.00 5.80 144,300 77.220 34.220 $286.40 7.40 0.00 5.80 0 7:40 8.00 5.80 0 0 $ 0 0 $ Os 0 mine the inventory balance Altira would report in its August 31, 2021, gust 2021 income statement using the FIFO method. Pods sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Cost per Cost per unit Cost of # of units Cost per Goods Sold sold Cost of Goods Sold Total Cost of Goods Sold # of units in inventory Ending Inventory $ 8.00 $ 8.00 $ 0 $ 0 8.00 $ 0 7:40 0.00 5.80 0 7.40 5.60 5.80 7.40 6.60 5.80 0 0 D S $ 0 $ 0 0 s 0