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Exercise 8-15 (Algo) LIFO; perpetual system (LO8-1, 8-4) Altira Corporation provides the following Information related to its merchandise Inventory during the month of August 2021: Aug. 1 Inventory on hand-2,980 units; cost $7.00 each. 8 Purchased 14,500 units for $6.40 each. 14 Sold 11,600 units for $12.99 each. 18 Purchased 8,700 units for $6.00 each. 25 Sold 10,500 units for $11.99 each. 28 Purchased 4,900 units for $5.80 each. 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, 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 LIFO: # 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 # of units in ending inventory Cost per unit Ending Inventory 2,900 $ 7.00 S 20,300 $ 7.00 $ S 0 $ 7.00 $ 0 0 S $ 7.00 6.40 6.40 Beg. Inventory Purchases: August 8 August 18 August 28 Total 14.500 8,700 6.40 6.00 92.800 52,200 28,420 6.40 6.00 6.00 0 0 6.00 5.80 4,900 5.8 5.80 0 5.80 31,000 S S 193,720 0 0 S 0 0 01 $ 0 S 0 0 $ 0

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