Ch 8 Exercises i Saved Help Save & Exit Submit 3 Check my work 00 Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Part 1 of 2 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-7,000 units. 10 points eBook Hint 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. Print References Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inve Perpetual FIFO: # of units sold Cost per unit Cost of # of Cost per Goods units unit Available for Sale 2,000 $ 5.30 $ 10,600 Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in inventory $ 5.30 $ 5.30 $ $ 8,000 5.50 44,000 5.50 5.50 Beg. Inventory Purchases: August 8 August 18 August 28 Total 6,000 33,600 0 5.60 5.60 5.80 5.60 5.80 5.80 4,000 20,000 23,200 111,400 $ 0 $ 0 0 0 $ 0 $ 0 0