Question: Practice Question I'm stuck on for my high school accounting class. Please help! Required information The following informotion applies to the questions displayed below] Altira

Practice Question I'm stuck on for my high school accounting class. Please help!

Required information The following informotion applies to the questions displayed below] Altira Corporation provides the following information related to its inventory during the month of August 2024 Aneust 1 inveatory on hand-3,060 units; cost $7,16 each. August 8 Purchased 15,000 soits for $6.50 each. August 14 sold 12,090 units for $13,00 each. August is Purchased 9,000 lanits for $6.00 each. August 25 sold 11,000 units foe $12,00 each. August 28 purchased 5,000 units for 55,80 each. August at tnventery on hand 9,000 units. Required: 1. Using calcuiations based on a perpetuol inventory system, determine the inventory balance Aitiro 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 the FifO method

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