blems i Saved Help Problem 8-5 (Algo) Various inventory costing methods [LO8-1,8-4) The following information applies to the questions displayed below) Ferris Company began January with 4.000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Unit Cost $ 8 Date of Purchase Jan. 10 Jan. 18 Totals Units 3,000 4,000 7,000 Total Cost $24,000 36,000 68,000 Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 2,080 1,000 3.000 6,600 5,000 units were on hand at the end of the month olducation.com/et/map/index.html?con-conexternal browe Dachhttp253A%252F%2Faamu blackbowd.com%252Fwebapp-252 blac Saved Help Save & 8 Protiems Ch 5,000 units were on hand at the end of the month Problem 8-5 (Algo) Part 4 os 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system Cast of Good Sold Are Goods bhur Cape ending Sold 4.000 5700 5 28.000 Beginning Inventory Purchases January 10 January 18 Total 3.000 58.00 4.000 5500 11 000 74 000 36000 5 88.000