Ferris Company began January with 5,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Part 3 of 5 Date of Purchase Jan. 10 Jan. 18 Purchases Unit Cost 9 Units 3,000 5,000 B,000 Total Cost $27,000 50,000 77,000 8.33 points Totals ebook * Includes purchase price and cost of freight. References Sales Date of Sale ar5 Units 2,000 1,000 3,000 6,000 Car. 20 Total 7,000 units were on hand at the end of the month. ho 3. Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system. Cost of Goods Available for Sale Cost of Goods Sold - January 5 Cost of Goods Sold - January 12 Costc Perpetual FIFO: Cost per Cost per # of units Unit Cost Cost of Goods Available for Sale # of units sold Cost of # of units Goods Sold sold Cost of # of uni Goods Sold unit unit sold Beg. Inventory 5.000 $ 8.00 09 S 40.000 $ 8.00 $ 0 0 $ 8.00 $ 0 Purchases: 3.000 9.00 27.000 TET 9.00 0 9.00 0 January 10 January 18 Total 5.000 10.00 50 000 10.00 | 88 o 10.00 0 13.000 $ 117.000 S 0 0 st e || s Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Inventory Balance Cost per Cost per per nit Cost of Goods Sold # of units sold Cost of # of units Cost per Goods Sold sold unit Cost of Goods Sold # of units in ending inventory Ending Inventory unit 8.00 S S 8.00 0 $ 8.00 $ 0 $ GP 8.00 0 C 9.00 9.00 CHOD 9.00 9.00 0 0 O 10.00 10.00 0 0 C 0 10.00 10.00 + $ $ 0 0 0 $ 0 0 0