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Exercise 8-15 (Algo) LIFO; perpetual system [LO8-1, 8-4] Altira Corporation provides the following information related...

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Exercise 8-15 (Algo) LIFO; perpetual system [LO8-1, 8-4] Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-3,600 units; cost $7.70 each. August 8 Purchased 18,000 units for $7.10 each. August 14 Sold 14,400 units for $13.60 each. August 18 Purchased 10,800 units for $6.60 each. August 25 Sold 13,400 units for $12.60 each. August 28 Purchased 5,600 units for $5.80 each. August 31 Inventory on hand-10,200 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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