(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 hand4,000 units; cost $8.10 each 8 Purchased 20,000 units for $7.50 each. 14 Sold 16,000 units for $14.00 each. 18 Purchased 12,000 units for $7.00 each. 25 Sold 15,000 units for $13.00 each 28 Purchased 6,000 units for $5.80 each. 31 Inventory on hand11,000 units. Award: 2.85 points 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 Goods unit Available for Sale 4,000 $ 8.10 $ 32,400 Cost per # of units Cost per # 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 # of units in inventory unit Ending Inventory $ 8.10 $ 8.10 $ 8.10 Beg. Inventory Purchases: August 8 August 18 August 28 Total 20,000 12,000 6,000 42,000 7.50 7.00 5.80 150,000 84,000 34,800 $ 301,200 7.50 7.00 5.80 7.50 7.00 5.80 7.50 7.00 5.80 0