Required information Exercise 8-14 Inventory cost flow methods; perpetual system [LO8-1, 8-4] Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018 Aug. 1 Inventory on hand-2,000 units; cost $6.10 each 8 Purchased 10,000 units for $5.50 each. 14 sold 8,000 units for $12.00 each. 18 Purchased 6,000 units for $5.00 each. 25 Sold 7,000 units for $11.00 each xercise 8-14 Part 3 Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report its August 2018 income statement using the (weighted) average cost methods. (Round "Average Cost per Unit" to 2 decimal aces.) Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance erpetual Avera Cost per | unit Inventory Value # of units in | Cost per Ending inventory # of units | # of units | AvgCost Cost of sold per unit Goods Sold ending unit invento ugust 1 ugust 8 ugust 14 ugust 18 ugust 25 otal ost of Goods Sold nd Ending Invento