A company began January with 8,000 units of its principal product. The cost of each unit is $8. Inventory transactions for the month of January are as follows: Date of Purchase Units January 10 6,000 January 18 8,000 Totals 14,000 Purchases Unit Cost* $ 9 Total Cost 10 $ 54,000 80,000 $ 134,000 * 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. 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. Note: Round average cost per unit to 4 decimal places. Enter sales with a negative sign. Inventory on hand Cost of Goods Sold Perpetual Average Number Cost per of units unit Beginning Inventory Sale January 5 Subtotal Average Cost Purchase January 10 - Subtotal Average Cost Sale January 12 - Subtotal Average Cost Purchase January 18 Subtotal Average Cost Sale January 20 Total Number Inventory Value of units sold Average Cost per unit Cost of Goods Sold