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Required information (The following information applies to the questions displayed below.) Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 9,000 15,000 Purchases Unit Cost $ 9 10 Total Cost $ 54,000 90,000 144,000 Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Unita 5,000 3,000 6,000 14,000 10,000 units were on hand at the end of the month, 3. Calculate Jonuary's ending inventory and cost of goods sold for the month using FIFO perpetual system Cost of Goods Sold January 5 Cost of Goods Sold January 12 Cost of Goods Sold January 20 nventor Perpetual E: # of Cast Cost of Goods Available for Sale Cost of # of Unit Goods units Cost Available for Sale 9,000 $8.00 $ 72.000 units Cost per unit sold Cost of of units Cost per of unita Cost of # of units Cost per Cost of Goods Sold sold Goods Sold sold unit Goods sold in ending Inventory 0 $ 8.00 S 0 $ 8.00 $ 0 $ 8.00 Beg Inventory Purchases January 10 January 18 Total 9.00 0 0 0 9.00 10.00 9.00 10.00 54,000 90,000 216.000 9.00 10.00 6,000 9.000 24.000 10.00 0 0 0 O $ 0 $ 0 0 0 0 5 0 5 Bry and cost of goods sold for the month using FIFO, perpetual system. Cost of Goods Sold - January 5 Cost of Goods Sold January 12 Cost of Goods Sold January 20 Inventory Bolance ble for Sale Cost of Goods valiable for Sale 72.000 of units sola Cost per unit Cost of Goods Sold of units Cost per sold unit Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold of units in ending Inventory Cost per unit Ending Inventory $ 8.00 $ 0 $ 8.00 $ 0 $ 8.00 5 . 5 8.00 $ 0 9.00 0 0 54,000 90.000 216.000 9.00 10.00 Tola 9.00 10.00 10.00 9.00 10.00 o 0 0 0 0 0 $ 0 $ 0 0 $ 0 $ 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.) Perpetual Average Inventory on hand Cost per Inventory # of units unit Value Cost of Goods Sold # of units Avg.Cost Cost of sold per unit Goods Sold $ 0 0 0 0 0 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 0 0 0 0 0 0 0 0 0 0 $ 0 $ 0