[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 hand3,800 units; cost $7.90 each.
August 8	Purchased 19,000 units for $7.30 each.
August 14	Sold 15,200 units for $13.80 each.
August 18	Purchased 11,400 units for $6.80 each.
August 25	Sold 14,200 units for $12.80 each.
August 28	Purchased 5,800 units for $5.80 each.
August 31	Inventory on hand10,600 units.

1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the FIFO method.

2. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the Average cost method.

Note: Round "Average Cost per Unit" to 2 decimal places.

2. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31 , 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using the Average cost method Note: Round "Average Cost per Unit" to 2 decimal places