Ferris Company began 2016 with 7,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January 2016 are as follows: Purchases Date of Purchase Units Unit Cost Total Cost 6,000 $ 8 $48,000 63,000 Jan. 10 Jan. 18 7,000 9 Totals 13,000 $111,000 Includes purchase price and cost of freight. Sales 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. atenatye ading mventory and cost of Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives