A company began January with $7,000$ units of its principal product. The cost of each unit is $$9.$ Inventory transactions for the month of January are as follows:

Date of Purchase Purchases

Units Unit Cost$*$Footnote asterisk Total Cost

January $106,000$ $ $10$ $ $60,000$

January $187,0001177,000$

Totals $13,000$ $ $137,000$

$*$Footnote asterisk Includes purchase price and cost of freight.

Sales

Date of Sale Units

January $53,000$

January $121,000$

January $204,000$

Total $8,000$

$12,000$ units were on hand at the end of the month.

Problem $8-5($Algo$)$ Part $3$

$3.$ Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system.

$4.$ Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system.

$5.$ Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system.