Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO LIFO Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale 9,000 $ 8.00 $ $ 72,000 # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 8.00 $ 0 $ $ 8.00 $ 0 Beginning Inventory Purchases: January 10 January 18 Total 54,000 $ 9.00 0 9.00 0 6,000 $ 9.00 $ 9,000 $10.00 24,000 $ $ $ 10.00 0 10.00 a 90,000 216,000 $ 0 $ 0 0 0 $ 0 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: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 9 $ 54,000 Jan. 18 9,000 90,000 Totals 15,000 144,000 10 * Includes purchase price and cost of freight Sales Date of Sale Units Jan. 5 5,000 Jan. 12 3,000 Jan. 20 6,000 Total 14,000 10,000 units were on hand at the end of the month. Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO LIFO Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale 9,000 $ 8.00 $ $ 72,000 # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 8.00 $ 0 $ $ 8.00 $ 0 Beginning Inventory Purchases: January 10 January 18 Total 54,000 $ 9.00 0 9.00 0 6,000 $ 9.00 $ 9,000 $10.00 24,000 $ $ $ 10.00 0 10.00 a 90,000 216,000 $ 0 $ 0 0 0 $ 0 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: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 9 $ 54,000 Jan. 18 9,000 90,000 Totals 15,000 144,000 10 * Includes purchase price and cost of freight Sales Date of Sale Units Jan. 5 5,000 Jan. 12 3,000 Jan. 20 6,000 Total 14,000 10,000 units were on hand at the end of the month