Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January are as follows:

	Purchases
Date of Purchase	Units		Unit Cost*			Total Cost
Jan. 10	5,000		$	10			$	50,000
Jan. 18	6,000			11				66,000
Totals	11,000							116,000

* 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.

Problem 8-5 (Algo) Part 5

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.)

Required information UIT GU 5 of 5 6,000 9.0000 $ >> 54,000 VO (3,000) 9.0000 (27,000) 3,000 $ 9.0000 $ 27,000 3,000 9.0000 27.000 5,000 10.0000 50,000 8,000 9.6230 X 77,000 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 (2,000) 9.0000 x (18,000) 2,000 $ 9.0000 $ 18,000 6,000 9.8333 X 59,000 6,000 11.0000 66,000 12,000 10.4277 X 125,000 9.0000 X $ 9.0000 (4,000) 8,000 (36,000) 89,000 4,000 9,000 36,000 $ 81,000 Total $ CURI C.