Requlred 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-2,400 units; cost $6.50 each. August 8 Purchased 12 , 000 units for $5.90 each. August 14 sold 9,69 units for $12.40 each. August 18 Purchased 7,200 units for $5.40 each. August 25 Sold 8,690 units for $11.4 each. August 28 Purchased 4,400 units for $5.80 each. August 31 Inventory on hand-7, 80 units. Requlred: . Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31 , 024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the FIFO method