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: Purchases Date of PurchaseUnits Unit Cost *Total Cost Jan. 10 3,000 $ 9 $ 27,000 Jan. 18 5,000 10 50,000 Totals 8,000 77,000 Includes purchase price and cost of freight. Sales Date of SaleUnits Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 7,000 units were on hand at the end of the month. 5. 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 Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase - January 10 Subtotal Average Cost Sale - January 12 Subtotal Average Cost Purchase - January 18 Subtotal Average Cost Sale - January 20 Total & Answer is complete but not entirely correct. Inventory on hand Cost of Goods Sold Cost # of # of Cost of Inventory Avg.Cost units per units Value Goods unit sold per unit Sold 5,000 5.0000 $ 25,000 78 8.0000 624 5.078 23.0000 & 25,624 3 2.0000 X 6 5,081 2.0000 25.630 3 X 54.0000 162 5,084 78.0000 25,792 78 58.0000 4.524 5.162 59.0000 30,316 3 89.0000 267 5,165 $ 30,583 0 S 0