Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost Total Cost Jan. 10 5,000 $ 7 Jan. 18 6,000 8 Totals 11,000 $35,000 48,000 83,000 *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. 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.) Inventory on hand Cost of Goods Sold Perpetual Average # of units Cost per unit Inventory Value # of units Avg.Cost sold per unit Cost of Goods Sold Beginning Inventory $ 0 Sale - January 5 0 Subtotal Average Cost 0 0 Purchase January 10 0 Subtotal Average Cost 0 0 Sale - January 12 0 Subtotal Average Cost 0 0 Purchase January 18 0 Subtotal Average Cost 0 0 Sale - January 20 0 Total 0 $ 0 0 $