Ferris company began january 8000 units of its principal products.

Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $7 Merchandise transactions for the month of January are as follows: Purchases Unit cost $0 Date of Purchase Jan. 10 Jan. 18 Totsi UNLES 6,000 3.000 14,000 Total Cost 5.40,000 72.000 120.000 Includes purchase price and cost of freight Sales Date of Bale Jan. 5 Jan. 12 Jan. 20 Total Unito 1.000 2,000 5,000 11.000 11,000 units were on hand at the end of the month Cost Required: 1. 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 - Periodie FIFO Cost of ELLO Goods of units of units Cost of Cost per of units Cost per Ending sold per unit Available for in ending unit Goods Sold inventory unit Inventory Sale Beginning inventory 8,000 $ 7.00 $ 56.000 $ 700$ 0 $ 700$ 0 Purchases January 10 6,000 5 800 48.000 $ 8.00 0 $ 8.00 0 January 18 8.000 $ 9.00 72.000 $ 9.00 $ Total 22.000 $ 176.000 $ $ 0 0 0