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Altira Corporation provides the following information related to its inventory during the month of August...

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Accounting

Altira Corporation provides the following information related to its inventory during the month of August 2024 :
August 1 Inventory on hand-2,900 units; cost $7.00 each.
August 8 Purchased 14,500 units for $6.40 each.
August 14 Sold 11,600 units for $12.90 each.
August 18 Purchased 8,700 units for $6.00 each.
August 25 Sold 10,600 units for $11.90 each.
August 28 Purchased 4,900 units for $5.80 each.
August 31 Inventory on hand-8,800 units.
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 last-in, first-out (LIFO).
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