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-2,100 units; cost $6.20 each. 8 Purchased 10,500 units for $5.60 each. 14 Sold 8,400 units for $12.10 each. 18 Purchased 6,300 units for $5.40 each. 25 Sold 7,400 units for $11.10 each. 28 Purchased 4,100 units for $5.80 each. 31 Inventory on hand-7,200 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. Perpetual FIFO: #of units Cost per unit Cost of Goods Available for Sale Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance # of units Cost per unit sold Cost of # of units Cost per Goods Sold sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in inventory Cost per unit Ending Inventory Beg. Inventory 2,100 $6.20 $ 13,020 $ 6.20 $ 6.20 $ 0 $ 6.20 $ 0 Purchases: August 8 10,500 5.60 58,800 August 18 August 28 6,300 5.40 34,020 5.60 5.40 5.60 0 5.40 4,100 5.80 23,780 5.80 o 0 5.80 Total 23,000 $ 129,620 0 $ 0 0 $ 0 $ 5.60 0 5.40 5.80 0 $ 2. 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 Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods Sold Inventory Balance Perpetual Average # of units Cost per Inventory unit Value # of units sold Avg.Cost per unit Cost of Goods Sold # of units in Cost per Ending inventory unit inventory Beginning Inventory Purchase - August 8 Sale - August 14 Purchase - August 18 Sale - August 25 Purchase - August 28 Total 0 $ 0 0 $ 0 0 S 0 $ 0 0 $ 0