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Required information [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 A 1 Inventory on hand--1,000 units cost 57.10 sach. Purchased 15.000 units for $6.50 each 14 Sold 12.000 units for $13.00 each 1 Purchased 5,000 units for 16.00 sach. 25 Sold 11,000 units for $12.00 each 28 Purchased 5,000 units for 55.00 each 31 Tnventory on hand-9,000 units Required: 1. 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 FIFO method Cost of Goods Bold August 25 Inventory Balance Cost of Goods Sold - August 14 W of Perpetual Cost of Goods Available for Sale Cost of Goods Cost per of units unit Available for Sale 3.000 $ 7.10 $ 21,300 w of units Cost per sold unit End Inver Cost of Goods Sold Cost per unit Cost of Goods Sold Total Cost of Goods Sold Cost per unit #of units in Inventory units sold 5 0 $ 7.10 $ 7.10 5 7.10 $ 21,300 3.000 5 78.000 850 0.00 Bog, Inventory Purchases August August 18 August 20 Total D 8.50 600 5.80 6.50 6.00 5.80 15,000 9.000 5.000 32.000 6.50 6.00 5.80 97,500 12.000 54,000 0 29.000 $ 201,800 15.000 5.80 0 99.300 0 $ 96,300 $ 0 $ 0 $

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