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 2 Inventory on hand-2,48e units; cost $6.50 each. August 8 Purchased 12,060 units for $5.98 each. August 14 sold 9,600 units for $12.46 each. August 18 Purchased 7,208 units for $5,40 each. August 25 5old 8,600 units for $11,40 each. August 28 Purchased 4,400 units for $5.80 each. August 31 Inventory on hand 7,869 units. Required: 1. Using cakulations based on a perpetual inventory system, determine the inventory balance Altira would report in as August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the FIFO method