Exercise 8-14 (Algo) Inventory cost flow methods; perpetual system (LO8-1,8-4) [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 hand-2,500 units; cost $6.60 each. 8 Purchased 12,500 units for $6.00 each. 14 Sold 10,000 units for $12.50 each. 18 Purchased 7,500 units for $5.20 each. 25 Sold 9,000 units for $11.50 each. 28 Purchased 4,500 units for $5.80 each. 31 Inventory on hand-8,000 units. 2. 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 Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods Sold # of units Avg.Cost Cost of sold per unit Goods Sold Inventory Balance # of units in Cost per Ending Inventory unit inventory Perpetual Average Cost per # of units Inventory Value unit Beginning Inventory Purchase August 8 0 $ 0 Sale - August 14 Purchase - August 18 0 $ 0 Sale - August 25 Purchase - August 28 Total 0 0 $ $ $ 0