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, 200 units; cost 57.30 eoch. August : Purchased 16,990 units for $6.70 each. August 14 Sold 12,800 units for $13.20 each. August 18 Purchased 9,690 units for $6.20 each. August 25 Sold 11 , bee units for $12.20 each. August 28 Purchased 5,280 units for $5.80 each. August 31 Inventory on hand 9,460 units. 2. 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 Average cost method. Note: Round "Average Cost per Unit" to 2 decimal places. Required information [The following information applies to the questions displayed below] Altra Corporation provides the following information related to its inventory during the month of August 2024 August 1 Invectiory on hand-3, 200 units; cost 57,30 each. August is Purchased 16 , eoe units for $6.70 each. August 14 Sald 12,800 units for 513,20 ech. August 18 Purchased 9,600 units for 56.2e each, August 25 Sold 11, 800 units for $12.20 each. August 28 Rurchased 5,200 unlis for 55 , ae warh. August 31 Imentory on hand-9, 400 units. Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altra would report in its August 31 , 2024. balance sheet and the cost of goods sold it would report in its Aupust 2024 income statement using the FiFO method