Ferris Company began 2016 with 5,000 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	Units			Unit Cost*			Total Cost
Jan. 10		6,000		$	7		$	42,000
Jan. 18		5,000			8			40,000
Totals		11,000					$	82,000

*Includes purchase price and cost of freight.

Sales
Date of Sale	Units
Jan. 5		3,000
Jan. 12		3,000
Jan. 20		4,000
Total		10,000

6,000 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 alternatives:

***I can't figure out the remaining entries. Please help show me and include the working calculations so I can see where I went wrong. Thank you

(Round average cost per unit to 4 decimal places. Enter sales with a negative sign.) Inventory on hand Cost of Goods Sold | # of units sold Perpetual Average # of units cost per inventory Value Avg.Cost per unit Cost of Goods Sold unit 5,000 6.0000$ 30,000 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 (3,000) 6.0000 (18,0003,000 6.0000$ 18,000 2,0006.0000 6,0007.0000 8,000 12,000 42,000 54,000 (3,000) 03,000$ 0.0000 $ 5,000 5,000 10,000 54,000 54,000 (4,000) 0 4,000$ 0.0000 6,000 $54,000 10,000 $18,000