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, 400 units; cost $7.50 each. 8 Purchased 17,000 units for $6.90 each. 14 Sold 13,600 units for $13.40 each. 18 Purchased 10,200 units for $6.40 each. 25 Sold 12,600 units for $12.40 each. 28 Purchased 5,400 units for $5.80 each. 31 Inventory on hand=9,800 units. 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. Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Perpetual FIFO: Cost of Goods Available for Sale Cost of Goods Cost per # of units unit Available for Sale 3,400 $ 7.50 $ 25,500 # of units sold Cost per unit Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in inventory Cost per unit End Inver $ 7.50 $ 7.50 $ 0 $ 7.50 $ 6.90 6.90 6.90 Beg. Inventory Purchases: August 8 August 18 August 28 Total 117,300 65,280 6.40 0 17,000 10,200 5,400 36,000 6.40 6.90 6.40 5.80 6.40 5.80 31,320 5.80 0 5.80 $ 239,400 0 $ 0 0 $ 0 $ 0 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 Inventory # of units Cost per unit Value # of units Avg.Cost sold per unit Cost of Goods Sold # of units in inventory Cost per unit Ending inventory Beginning Inventory Purchase - August 8 0 $ 0 Sale - August 14 Purchase - August 18 0 $ 0 Sale - August 25 Purchase - August 28 Total 0 $ 0 $ 0 0 $ 0