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 Nug.1 Toventory on hand-2,600 units cost $6.70 each Purchased 13,000 units for $6.10 each. 14 Sold 10,400 units for $12.60 each 10 Perchased %.100 units for $5.60 each 25 Bold 9,400 units for $11.60 each. 28 Purchased 4.600 unite for $5.50 each. 31 Inventory on hand-,200 units. Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Alsira 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 Cost of Goods sold. August 25 Inventory Balance Porketual FIFO Cost of Goods Available for Sale Cost of of units Cost per Goode unit Available for Sale 2,500 $ 6.70 S 17,420 Cost of Goods Bow August 14 W of units Cost per Cost of sold unit Goods Sold of units of units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold Cost per unit End Inver Inventory $ 6.70 670 $ D $ 6.70 $ Bog. Inventory Purchases August August 18 August 28 Total 13.000 7,800 4,000 28.000 8.10 5.60 5.80 0 79,300 43.680 20,680 $ 167,080 6.10 5.00 5.80 6.10 5,60 5.50 6.10 5.60 5.80 0 5 o 0 $ o$ 0 D 5