Ferris Company began 2018 with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2018 are as follows:

	Purchases
Date of Purchase	Units		Unit Cost*			Total Cost
Jan. 10	5,000		$	9			$	45,000
Jan. 18	6,000			10				60,000
Totals	11,000							105,000

* Includes purchase price and cost of freight.

Sales
Date of Sale	Units
Jan. 5	3,000
Jan. 12	2,000
Jan. 20	4,000
Total	9,000

8,000 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: 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system.

Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system.

FIFO	Cost of Goods Available for Sale			Cost of Goods Sold - Periodic FIFO			Ending Inventory - Periodic FIFO
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beginning Inventory			$0		$0.00	$0		$0.00	$0
Purchases:
January 10			0		$0.00	0		$0.00	0
January 18			0		$0.00	0		$0.00	0
Total	0		$0	0		$0	0		$0

alculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system.

LIFO	Cost of Goods Available for Sale			Cost of Goods Sold - Periodic LIFO			Ending Inventory - Periodic LIFO
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beginning Inventory			$0		$0.00	$0		$0.00	$0
Purchases:
January 10			0		$0.00	0		$0.00	0
January 18			0		$0.00	0		$0.00	0
Total	0		$0	0		$0	0		$0

Calculate January's ending inventory and cost of goods sold for the month using LIFO, perpetual system.

Perpetual LIFO:	Cost of Goods Available for Sale			Cost of Goods Sold - January 5			Cost of Goods Sold - January 12			Cost of Goods Sold - January 20			Inventory Balance
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units sold	Cost per unit	Cost of Goods Sold	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beg. Inventory			$0		$0.00	$0		$0.00	$0		$0.00	$0		$0.00	$0
Purchases:
January 10			0		0.00	0		0.00	0		0.00	0		0.00	0
January 18			0		0.00	0		0.00	0		0.00	0		0.00	0
Total	0		$0	0		$0	0		$0	0		$0	0		$0

Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system.

Average Cost	Cost of Goods Available for Sale			Cost of Goods Sold - Average Cost			Ending Inventory - Average Cost
	# of units	Unit Cost	Cost of Goods Available for Sale	# of units sold	Average Cost per Unit	Cost of Goods Sold	# of units in ending inventory	Average Cost per unit	Ending Inventory
Beginning Inventory			$0
Purchases:
January 10			0
January 18			0
Total	0		$0			$0			$0

Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.)

Perpetual Average	Inventory on hand			Cost of Goods Sold
	# of units	Cost per unit	Inventory Value	# of units sold	Avg.Cost per unit	Cost of Goods Sold
Beginning Inventory			$0
Sale - January 5			0
Subtotal Average Cost	0		0
Purchase - January 10			0
Subtotal Average Cost	0		0
Sale - January 12			0
Subtotal Average Cost	0		0
Purchase - January 18			0
Subtotal Average Cost	0		0
Sale - January 20			0
Total	0		$0	0		$0