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: ded Aug. 1 Inventory on hand-2,900 units; cost $7.00 each. 8 Purchased 14,500 units for $6.40 each. 14 Sold 14.600 units for $12.90 each. 18 Purchased 8,700 units for $6.00 each. 25 Sold 10,600 units for $11.90 each. 28 Purchased 4,900 units for $5.80 each. 31 Inventory on hand-8,800 units. 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 Cost w of Cost of Inventory of units Avg Cost Cost per units Goods units Value Ending in per unit per unit sold Sold Inventory Inventory unit Beginning Inventory 2.900 $ 7.00 $ 20,300 2,900 $ 7.00 $ 20,300 Purchase - August 8 14,500 $ 6.40 92,800 14,500 $ 6.40 $ 92,800 17,400 $ 113,100 Sale - August 14 11,600 $ 6.50 $ 75,400 5,800 $ 6.50 $ 37,700 Purchase - August 18 8,700$ 6.00 52,200 14,500 $ 6.00 $ 87,000 20,300 $ 124,700 Sale - August 25 10,000 $ 6.20 65,720 3,900 $ 6.20 $ 24,180 Purchase - August 28 4,900 $ 5.80 28,420 8,800 X $ 5.80 $ 51,040 Total 31,000 $ 193,720 $ 141,120 12,700 $ 75,220 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted