Fems Company began January with 8,000 units of its principal product. The cost of each unit is $7 Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 19 Jan. 18 Totals Units 6,089 8,000 14,000 Purchases Unit cost $8 9 Total Cost $ 48,000 72.000 120,000 Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 4,000 2,000 5,000 11,000 11,000 units were on hand at the end of the month 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO periodic system Cost of Goods Sold Periodic UFO Ending Inventory - Periode LIFO LIFO Cost of Goods Available for Sale Cost of of units Cost per Goods unit Available for Sale 8.000 $ 7005 58.000 N of units sold Cost per Cost of Goods Sold of units in ending inventory Cost per unit Ending Inventory $ 00 $ 7.00 Beginning Inventory Purchases January 10 Januan 13 TO 3 8.00 S 6,000 68.00 8.000 $ 9.00 22.000 48.000 72 000 178 000 8:00 9:00 900