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Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021 13 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-7,800 units. 6710 points awarded 0315 24 Scored 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). Cost of Goods Available for Sale Cost of Goods Sold August 14 Cost of Goods Sold - August 25 Inventory Balance Perpetual LIEO Cost of Cost #of of Goods Cost Cost of of Cost Cost of Total Cost per units # of units units per Available Goods units per Goods of Goods Cost in ending Ending unit sold for Sale unit Sold sold unit Sold Sold inventory per unit Inventor Beg 2,000 $5.30 $ 10,500 0 $ 5.30 $ 0 0 s $ 530 Inventory 0 2.000 $5.30 $ 10,60 Purchases August 8.000 5.50 44,000 7.000 5.50 38,500 7.000 5.50 38.500 1.000 5.50 5.50 August 18 6.000 5.60 33600 6.000 5.00 33.600 6.000 5.60 33.500 0 5 60 August 28 4,000 5.80 23.200 0 5.80 0 0 5.80 4,000 5.00 21.20 Total 20.000 $ 111,400 13 000 S 72.100 13.000 3 72.100 15144200 7,000 $ 19.30

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