A company began January with $6,000$ units of its principal product. The cost of each unit is $$8.$ Inventory

transactions for the month of January are as follows:

$*$Includes purchase price and cost of freight.

$8,000$ 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:

FIFO, periodic system

LIFO, periodic system

FIFO, perpetual system

Average cost, periodic system

Average cost, perpetual system