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 last-in, first-out (LIFO).

Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand3,300 units; cost $7.40 each. 8 Purchased 16,500 units for $6.80 each. 14 Sold 13, 200 units for $13.30 each. 18 Purchased 9,900 units for $6.20 each. 25 Sold 12,200 units for $12.30 each. 28 Purchased 5,300 units for $5.80 each. 31 Inventory on hand-9,600 units. Jsing calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2021, alance sheet and the cost of goods sold it would report in its August 2021 income statement using last-in, first-out (LIFO). Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Perpetual LIFO: # of units in Cost per # of units Cost per unit Cost of Goods Available for Sale # # of units sold Cost Cost of per unit Goods Sold # of units sold Cost per unit Cost of Total Cost of Goods Sold Goods Sold ending inventory Ending Inventory unit 3,300 $ 7.40 $ $ 24,420 0 $ 7.40 $ 0 0 $7.40 | $ 0 $ 7.40 16,500 6.80 Beg. Inventory Purchases: August 8 August 18 August 28 Total 6.80 6.20 112,200 61,380 30,740 6.80 6.20 0 01 6.20 9,900 5,300 0 6.80 6.20 5.80 5.8 0 5.80 0 0 5.80 35,000 $ 228,740 0 $ 0 0 0 $ 0 $ 0 0 $