Ferris Company began 2018 with 6.000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January 2018 are as follows: Purchases Date of Purchase Units Unit Cost Total Cost Jan. 18 Jan 18 5,800 6,80 11,800 35,868 48,89 83,e00 Totals Includes purchase price and cost of freight Sales Jan. 5 Jan. 12 Jan. 20 Total ate of Sale Units 3,000 2,000 4,000 9,eee 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 Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Cost of Goods Available for Sale Cost of Goods Sold- Periodic FIFO Ending Inventory - Periodic FIFO Cost of FIFO # of units | Goods. unit Available for sold Sale unit Goods Sold in ending Cost per Ending inventory #of units | Cost,per!. | #of units cost per cost of unit Inventory $ 0.00 $ Beginning Inventory Purchases 0.00 S 0.00 $0.00 $ 0.00 0 January 10 January 18 0. Total Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory -Periodic LIFO # of units Cost of Goods Sale LIFO Cost per | # of units | Cost per Cost of,In ending per # of units unit Available for sold unit Goods Sold in ending Cost per Endin inventory nit Inventory $ 0.00 $ 0.00 s Beginning Inventory Purchases: January 10 January 18 S 0.00 $ 0.00 S 0.00 $ 0.00 Total Calculate January's ending inventory and cost of goods sold for the month using LIFO, perpetual system. Cost of Goods Available for Sale Cost of Goods Sold- January 5 Cost of Goods Sold-January 12 Cost of Goods Sold - January 20 #of Cost per Goods units unit Available fo Inventory Balance Cost of erpetual LIFO: #of # of units cost per unit cost of l Goods Sold sold |#Of units | Cost per | Cost of |#Of units | Cost per Cost of Goods Sold | in ending Cost per End unit Goods Sold s sold unit sold inventory Beg Inventory 6.000 $ 600 36,000 000S 600$ 18,000 600 s 600 S 600 Purchases 7 00 8 0032 000 7 00 7 00 8 00 January 10 7 00 14,000 15,000 48,000 119,000 January 18 8 00 8 00 8 00 Total 17,000 5 18,0002,000 14,000 4,000