0/1 A credit card company charges 27.5% interest on purchases made during the month. If Steve spent $130 last month and does not pay off any of the purchases before the interest is charged, how much will the interest be on his purchases?

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.)