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-2,600 units; cost $6.70 each. August 8 Purchased 13,000 units for $6.10 each. August 14 Sold 10,400 units for $12.60 each. August 18 Purchased 7,888 units for $5.60 each. August 25 Sold 9,400 units for $11.60 each. August 28 Purchased 4,600 units for $5.80 each. August 31 Inventory on hand-8,200 units. Required: 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. Cost of Goods Available for Sale Cost of Goods Sold August 14 Cost of Goods Sold - August 25 Inventory Balence Perpetual FIEO Number of Cost per unit units ances Cost of Goods Available for Sale Number of units sold Cost per unit Coat of Goods Sold Number of units Cost per unit Cost of Goods Sold Total Cost of Goods Sch sold Number of Inventory Cost per unit End Mwen Beginning Inventory 2,000 $6.70 S 17,420 $ 6.70 $ 6.70 $ 0 $ 705 Purchases August 13,000 6.10 79.300 6.10 6.10 August 181 7.800 5.00 43,680 5.00 of 5.00 610 6.60 August 20 4.600 5.00 26.680 580 580 5.00 Total 26,000 $ 167,050 0 0 0 0 D 3 Mc Graw < Prev of 10 Next >