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 Inventory during the month of August 2024: August 1 Inventory on hand-3,800 units; cost $7.90 each. August 8 August 14 August 18 August 25 Purchased 19,000 units for $7.30 each. Sold 15,200 units for $13.80 each. Purchased 11,400 units for $6.80 each. Sold 14,200 units for $12.80 each. August 28 Purchased 5,800 units for $5.80 each. August 31 Inventory on hand-10,600 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, 2024. goods sold it would report in its August 2024 income statement using the Average cost method