A company began January with 8,000 units of its principal product. The cost of each unit is $7. Inventory transactions for the month of January are as follows:

Date of Purchase	Purchases
Units	Unit Cost*Footnote asterisk	Total Cost
January 10	6,000	$ 8	$ 48,000
January 18	8,000	9	72,000
Totals	14,000		$ 120,000

*Footnote asterisk Includes purchase price and cost of freight.

Sales
Date of Sale	Units
January 5	4,000
January 12	2,000
January 20	5,000
Total	11,000

11,000 units were on hand at the end of the month.

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

beg inv	8000	7	56000
purchases
jan 10	6000	8.00	48000
jan 18	8000	9.00	72000
total	22000		176000

cost of goods sold- average cost

number of units sold ?

average cost per unit ?

ending inventory- average cost

number of units in ending inventory?

average cost per unit?

Problem 8-5 (Algo) Part 5

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

beg inv	8000	7.0000
sale- jan 5	?	7.0000
subtotal avg cost		7.0000
purchase- jan 10	?	8.0000
subtotal avg cost		7.6000
sale- jan 12	?	7.6000
subtotal avg cost		7.6000
purchase- jan 18	8000	9.0000
subtotal avg cost		?
sale- jan 20	?	?