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 hand2,800 units; cost $6.90 each. 8 Purchased 14,000 units for $6.30 each. 14 Sold 11,200 units for $12.80 each 18 Purchased 8,400 units for $5.80 each. 25 Sold 10, 200 units for $11.80 each. 28 Purchased 4,800 units for $5.80 each. 31 Inventory on hand-8,600 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. Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Perpetual FIFO: # of units Cost per Cost of Goods Available for Sale Cost of Goods unit Available for Sale 2,800 S 6.90 $ $ 19,320 # 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 Inventory Balance # of units Cost per Ending in unit Inventory Inventory $ 6.90 S 6.90 $ 6.90 6.30 6.30 6.30 Beg. Inventory Purchases: August 8 August 18 August 2B Total 14,000 8,400 4.800 88,200 48,720 5.80 5.80 5.80 6.30 5.80 5.80 5.80 5.80 0 5.80 27,840 $ 184,080 30,000