Cpter 08 H Question 9 (of 10) 5.00 points Ferris Company began 2016 with 7,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January 2016 are as follows: Purchases Date of Purchase Jan. 10 Jan. 18 Units Unilt Cost Total Cost 6,000 $7 $42,000 7,000 856,000 Totals 13,000 $98,000 Includes purchase price and cost of freight Salos Date of Sale Jan. 5 Jan. 12 Jan. 20 Units 3,000 1,000 4,000 Total 8,000 12,000 units were on hand at the end of the month. Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following aternatives: Cost of Goods Available for Sale Cost of Goods Sold-Periodie FIFO Ending Inventory-Periodic FIFO