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 PurchasePurchasesUnitsUnit Cost*Footnote asteriskTotal CostJanuary 105,000$ 7$ 35,000January 186,000848,000Totals11,000 $ 83,000

*Footnote asterisk Includes purchase price and cost of freight.

SalesDate of SaleUnitsJanuary 53,000January 122,000January 204,000Total9,000

8,000 units were on hand at the end of the month.

Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system.