please complete part 1 & 2

Required information 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-2,400 units; cost $6.50 each. 8 Purchased 12,000 units for $5.90 each. 14 Sold 9,600 units for $12.40 each. 18 Purchased 7.200 units for $5.40 ench. 25 Sold 8,600 units for $11.40 each. 28 Purchased 4,400 units for $5.00 each. 31 Inventory on hand-7.800 units. Exercise 8-14 (Algo) Part 1 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 Sold - August 14 Cost of Goods Sold - August 25 Perpetual FIFO Cost of Goods Available for Sale Cost of of units cost Cost per Goods unit Available for of of units sold Cost per Cost of Goods Sold of units Cost per sold unit Goods Sale Cost of Goods Sold Total Cost of Goods Sold unit in en inver Sale Bog. Inventory Purchases Required information 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-2,400 units; cost $6.50 each. 8 Purchased 12,000 units for $5.90 each. 14 Sold 9,600 units for $12.40 each. 18 Purchased 7.200 units for $5.40 ench. 25 Sold 8,600 units for $11.40 each. 28 Purchased 4,400 units for $5.00 each. 31 Inventory on hand-7.800 units. Exercise 8-14 (Algo) Part 1 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 Sold - August 14 Cost of Goods Sold - August 25 Perpetual FIFO Cost of Goods Available for Sale Cost of of units cost Cost per Goods unit Available for of of units sold Cost per Cost of Goods Sold of units Cost per sold unit Goods Sale Cost of Goods Sold Total Cost of Goods Sold unit in en inver Sale Bog. Inventory Purchases Check my work 8 Purchased 12.000 units for $5.90 each. 14 Sold 9,600 units for $12.40 each. 18 Purchased 7,200 units for $5.40 each. 25 Sold 8,600 units for $11.40 each. 28 Purchased 4,400 units for $5.80 each. 31 Inventory on hand-7,800 units. Exercise 8-14 (Algo) Part 1 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 Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Perpetual FIFO of of units Cost per unit Cost per Cost of Goods Available for units sold cost per unit Cost of Goods Sold of units Cost per sold unit Total Cost of Goods Sold Cost of Goods Sold o of u in en inver Beg Inventory Purchases: August 8 August 18 August 28 T Total oach. y system, determine the inventory balance Altira would report in its August 31, 2021, eport in its August 2021 income statement using the FIFO method. Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance W of units sold Cost per unit Cost of Goods Sold Wof units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold Cost per of units in ending Inventory Ending Inventory unit Required information 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-2,400 units cost $6.50 each. B Purchased 12,000 units for $5.90 each. 14 Sold 9,600 units for $12.40 cach. 18 Purchased 7,200 units for $5.40 each. 25 Sold 8,600 units for $11.40 each. 28 Purchased 4,400 units for $5.80 each. 31 Inventory on hand-7,800 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 Inventory Balance Perpetual Average of units Cost per unit inventory Value # of units Avg. Cost sold per unit Cost per of units in ending inventory Cost of Goods Sold Ending Inventory Beginning inventory Purchase. August 8 Sale - August 14 Check my 28 Purchased 4,400 units for $5.80 each. 31 Inventory on hand-7,800 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 Inventory Balance Perpetual Average of units Cost per unit Inventory Value # of units sold Avg Cost per unit Cost of Goods Sold of units in ending inventory Cost per unit Ending Inventory Beginning Inventory Purchase. August 8 Sale - August 14 Purchase - August 18 Sale - August 25 Purchase - August 28 Total $ 00