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-2,700 units; cost $6.80 each. 8 Purchased 13,500 units for $6.20 each. 14 Sold 10,800 units for $12.70 each. 18 Purchased 8,100 units for $5.60 each. 25 Sold 9,800 units for $11.70 each. 28 Purchased 4,700 units for $5.80 each. 31 Inventory on hand-8,400 units. Exercise 8-14 (Algo) Part 2 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 Perpetual Average # of units Cost per unit Inventory Value # of units Avg.Cost sold per unit Cost of Goods Sold # of units in inventory Inventory Balance Cost per unit Ending inventory Beginning Inventory Purchase-August 8 Sale-August 14 Purchase-August 18 Sale-August 25 Purchase August 28 Total 2,700 $6.80 $ 18,360 0 $ 0 0 $ 0 2,700 $ 18,360 $ 0 0 $ 0