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Ferris Company began 2016 with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January

Ferris Company began 2016 with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2016 are as follows Date of TransactionPurchase/Sale 1/5 1/10 1/12 1/18 1/20 Unit Cost $9 $10 Units Sale Purchase Sale Purchase Sale 3,000 5,000 2,000 6,000 4,000 Calculate the Company's ending inventory and COGS for the month of January under the following methods: Method Total Number of Units Ending Inventor COGS

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