The end of part one's title is "ending inventory"

Exercise 8-14 (Algo) Inventory cost flow methods; perpetual system (LO8-1, 8-4) [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 hand2,300 units; cost $6.40 each. 8 Purchased 11,500 units for $5.80 each. 14 Sold 9,200 units for $12.30 each. 18 Purchased 6,900 units for $5.00 each. 25 Sold 8,200 units for $11.30 each. 28 Purchased 4,300 units for $5.80 each. 31 Inventory on hand7,600 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 Inventory Balance Perpetual FIFO: Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost per # of units sold Cost of # of units Goods Sold sold Cost per unit Cost of Goods Sold Total Cost of Goods Sold # of units in inventory Cost per unit Endi Inven unit Beg. Inventory 2,300 6.40 $ 14,720 6.40 $ 6.40 $ 6.40 Purchases: 5.80 5.80 5.80 5.80 66,700 34,500 5.00 5.00 5.00 5.00 August 8 August 18 August 28 Total 11,500 6,900 4,300 25,000 5.80 24,940 5.80 0 5.80 5.80 $ 140,860 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 units Cost per unit Inventory Value # of units Avg.Cost sold Cost of Goods Sold # of units in Cost per inventory unit Ending inventory per unit Beginning Inventory Purchase - August 8 - Sale - August 14 Purchase - August 18 Sale - August 25 Purchase - August 28 Total