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Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Units 3,000 4,000 7.000 Purchases Unit Cost $ 8 9 Total Cost $24,000 36,000 60,000 Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 2,000 1,000 3,000 6.000 5,000 units were on hand at the end of the month. 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system, Cost of Goods Available for Sale Cost of # of units Unit Goods Cost Available for Sale 4,000 $ 7.00 $ 28,000 Cost of Goods Sold - Average Cost # of units Average Cost of sold Cost per Goods Sold Unit Ending Inventory - Average Cost # of units Average In ending Cost per Ending Inventory unit Inventory Average Cost Beginning Inventory Purchases: January 10 January 18 Total 3,000 4,000 11,000 $ 8.00 $ 9.00 24,000 36,000 88,000 $