A company began January with 6,000 units of its principal product. The cost of each unit is $6. Inventory transactions for the month of January are as follows: Date of Purchase Units January 10 5,000 Purchases Unit Cost* $ 7 Total Cost January 18 6,000 8 Totals 11,000 $ 35,000 48,000 $ 83,000 * Includes purchase price and cost of freight. Sales Date of Sale Units January 5 3,000 January 12 2,000 January 20 4,000 Total 9,000 8,000 units were on hand at the end of the month. oblem 8-5 (Algo) Part 5 Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. te: Round average cost per unit to 4 decimal places. Enter sales with a negative sign. Inventory on hand Cost of Goods Sold Perpetual Average Cost Number Number per of units Inventory Value of units Average Cost per Cost of Goods unit sold unit Sold Beginning Inventory 6,000 6.0000 $ 36,000 Sale - January 5 (3,000) 6.0000 (18,000) 3,000 $ 6.0000 $ 18,000 Subtotal Average 3,000 6.0000 18,000 Cost Purchase - January 5,000 7.0000 35,000 10 Subtotal Average 8,000 6.6250 53,000 Cost Sale - January 12 (2,000) 6.0000 (12,000) 2,000 $ 6.0000 $ 12,000 Subtotal Average 6,000 6.5000 41,000 Cost Purchase - January 6,000 8.0000 48,000 18 Subtotal Average 12,000 6.6000 89,000 Cost Sale - January 20 4,000 6.0000 24,000 Total 16,000 $ 113,000 5,000 $ 30,000