using the average cost method calculate inventory balance and cost of goods sold

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 Aug 2021 Aug.1 Inventory on hand-3,300 units; cost $7.40 each. 8 Purchased 16,500 units for $6.80 each. 14 Sold 13,200 units for $13.30 each. 18 Purchased 9,900 units for $6.20 each. 25 Sold 12,200 units for $12.30 each. 28 Purchased 5,300 units for $5.80 each. 31 Inventory on hand-9,600 units. 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.) cost of Goods Sold Perpetual Average Inventory on hand of units Inventory unit Value Cost per # of units Avg.Cost Inventory Balance # of units in Cost per Ending Inventory unit inventory sold Cost of Goods Sold per unit Beginning Inventory Purchase - August 8 0 $ 0 Sale - August 14 Purchase - August 18 $ 0 Sale - August 25 Purchase - August 28 Total O $ 0 0 $ 0