8 6 Saved Required information (The following information applies to the questions displayed below.) Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Unita 5,000 6,000 11,000 Purchases Unit Cost $ 6 7 Total Coat $30,000 42.000 72,000 * Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Units 3,000 2,000 4.000 9,000 Total 8,000 units were on hand at the end of the month. 3. Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system. Preview attachme Definition of a De 2019 publice updates are ready to be OB Ac Sed Help Save & Ent Submit Includes purchase price and cost of freight. Check my work Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Unica 3.000 2.000 4.000 9,000 8.000 units were on hand at the end of the month 3. Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system ce Cost of Goods Sold - January 5 Cost of Goods Sold January 12 Cost of Goods Sold January 20 Inventor Perpetual Cost of Goods Available for Sale Cost of of Unit Goods units Cost Available for Bale 6,000 $500 $ 30.000 of units sold Cost per uni Cost of Goods Sold of units Cost per sold unit Cost of Goods Sold of units Cost per sold un Cost of Goods Sold of units in anding inventory Cost UR $ 500 5 0 5 5.00 $ 0 $ 5.00 $ 0 5 Beg. Inventory Purchases January 10 January 18 Total 0 5.000 6.000 17.000 600 7.00 30,000 42.000 102,000 6.00 7.00 0 0 o 500 7.00 0 0 0 6.00 7.00 0 ol $ ol $ 0 S 0 $ 0 sing FIFO perpetual system. Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Inventory Balance # of units sold Cost per unit Cost of # of units Cost per Goods Sold sold unit Cost per Cost of Goods Sold # of units in ending Inventory unit Ending Inventory $ 5.00 $ 0 $ 5.00 $ 0 $ 5.00 $ 0 0 6.00 6.00 7.00 + 6.00 7.00 0 7.00 OOO OOO 0 $ 0 0 $ 0 $