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-3,800 units; cost $7.90 each. August 8 Purchased 19,000 units for $7.30 each. August 14 Sold 15,200 units for $13.80 each. August 18 Purchased 11,400 units for $6.80 each. August 25 Sold 14,200 units for $12.80 each. August 28 Purchased 5,800 units for $5.80 each. August 31 Inventory on hand-10,600 units. Required: 1. 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 FIFO method. Perpetual FIFO: Beginning Inventory Purchases: August 8 Cost of Goods Available for Sale Cost of Goods Available for Sale $ 30,020 Number of Cost per units unit 3,800 $7.90 19.000 7:30 138 700 Cost of Goods Sold - August 14 Number of units sold Cost per unit 3,800 $ 19.000 7.90 7.30 Cost of Goods Sold $ 30,020 129 700 Cost of Goods Sold - August 25 Number of units sold 0 10.000 Cost per unit $ Cost of Goods Sold 7.90 $ 0 Total Cost of Goods Sold

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 3,800 units; cost $7,90 each. August 8 Purchased 19,000 units for $7.30 each. August 14 Sold 15,200 units for $13.80 each. August 18 Purchased 11,400 units for $6.80 each. August 25 Sold 14,200 units for $12.80 each. August 28 Purchased 5,800 units for $5.80 each. August 31 Inventory on hand-10,600 units. Required: 1. 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 FiFO method