9

Ferris Company began 2018 with 7,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2018 are as follows: Purchases Date of Purchase Units 4,000 7,000 11,000 Unit Cost* Total Cost $36,000 Jan. 1 Jan. 18 10 Totals 106,000 Includes purchase price and cost of freight. Date of Sale Jan. 5 Jan. 12 Jan. 20 Units 3,000 1,000 Total 8,000 10,000 units were on hand at the end of the month. Required Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system. Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Cost of Goods Available for Sale Cost of Goods Sold Periodic FIFO Ending Inventory - Periodic FIFO Cost of # of units Cost per ventory unit Inventory FIFO Cost | Goods | # of units | Cost # of units #Of units|per unit | Available for | per | Cost of | units unit Goods Sold in ending inventory sold Sale Beginning Inventory Purchases: January 10 January 18 Total Required1Required 2Required 3 Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. Cost of Goods Available for Sale Cost of Goods Sold-Periodic LIFO Ending Inventory-Periodic LIFO Cost of per | Cost of | units Goods Sol inventory # of units | Cost per | Ending in ending Inventory LIFO Cost | Goods | # of units | Cost # of units per unit Available for sold Sale Beginning Inventory Purchases: January 10 January 18 Total Required 1 Required 2 Required 3Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using LIFO, perpetual system. Cost of Goods Available for |Cost of Goods Sold - Cost of Goods Sold - January 12 Cost of Goods Sold - Inventory Balance Sale Cost Cost of unit Available units Cost Janu 20 Cost of | # of # of cost per Goods units Cost of | # of Cost per Goods units Cost of | # of units Goods in ending unit Inventory FO #of units per Goodsunitsunit Cost Cost perEnding unit Sold sold Per unit sold Sold sold Sold inventory for Sale Beg. Inventory Purchases: January 10 January 18 Total Required 1 Required 2 Required 3Required 4Required 5 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 Goods Sold - Average Cost Ending Inventory -Average Cost Cost of Goods Average Cost per 1 . cost of | # of units Average in ending Cost per Inventory inventory Aver e Cost Ending Unit Cost Available for # of units sold # of units Unit Goods Sold ending unit Sale Beginning Inventory Purchases: January 10 January 18 Total Required 1 Required 2 Required 3 Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Rour average cost per unit to 4 decimal places. Enter sales with a negative sign.) Inventory on hand Cost of Goods Sold Perpetual Average # of units | Cost per | Inventory | # of units Avg.Cost | Cost of unit Value sold per unit Goods Sold Beginning Inventory Sale January 5 Subtotal Average Cost Purchase January 10 Subtotal Average Cost Sale January 12 Subtotal Average Cost Purchase January 18 Subtotal Average Cost Sale January 20 Tota