Using calculations based on a PERPETUAL inventory system, determine the inventory balance Altira would report in its AUGUST 31 valance sheet and the COGS it would replrt in its August income statemenr using LIFO

vork (max 230) Assigned i Altira Corporation provides the following Information related to its merchandise in Aug.1 Inventory on hand-2,000 units; cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 units. Using calculations based on a perpetual Inventory system, determine the Inventor balance sheet and the cost of goods sold it would report in Its August 2021 Income Cost of Goods Available for Sale Cost of Goods Sold - August 14 Perpetual LIFO: # of units # of Cost of Cost per Goods unit Available for Sale # of units sold Cost per Cost of Goods Sold unit 2.000 S5.30 S 10.600 5.30 $ Beg. Inventory Purchases ,500 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 units. Using calculations based on a perpetual Inventory system, determine the Inventon balance sheet and the cost of goods sold it would report In Its August 2021 Income Cost of Goods Available for Sale Cost of Goods Sold - August 14 Perpetual LIFO: # of units Cost of Cost per Goods unit Available for Sale # of units sold Cost per Cost of #o Goods Sold unit 2.000 $ 5.30 $ 10.600 S 5.30 $ 0 8.000 5.50 44,000 5.50 Beg. Inventory Purchases: August 8 August 18 August 28 Total 5.60 33.600 5.60 O 6.000 4.000 5.80 23.200 5.80 20,000 111,400 0 S mine the Inventory balance Altira would report In Its August 31, 2021, ugust 2021 Income statement using last-In, first-out (LIFO). old - August 14 Cost of Goods Sold - August 25 Inventory Balance Cost of # of units Goods Sold sold Cost per Cost of Goods Sold unit Total Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory BO $ O s 5.30 s 0 $ 5.30 O 5.50 5.50 0 5.60 0 0 0 0 5.80 5.60 5.80 0 $ O 0 $ 0 S 0 0 s 0