Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: Date of Purchase Jan 10 Jan. 18 Totals Purchases Unit Cost $6 Units 5.000 6,080 11,000 Total cost $30,00 102.00 2,08 - Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 10 Jan 20 Units 3.000 2.000 4,000 9.ece Total 8.000 units were on hand at the end of the month Problem 8-5 (Algo) Part 4 Prev of 12 11: Next > a W N Problem 8-5 (Algo) Part 4 4. Calculate January's ending Inventory and cost of goods sold for the month using Average cost, periodic system Cost of Goods Sold Average Cost Ending Inventory - Average Cost Average Cost Cost of Goods Available for Sale Cost of Unit Goods of units Cost Available for Sale 0,000 $ 5.00 30.000 of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per Ending Inventory unit Beginning Inventory Purchases: January 10 January 18 Total 5,000 $ 8.00 0.000 37.00 17.000 30,000 42,000 102,000 $ Prev CD 8 9 of 12 Next a WX N Cho