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: Purchases Unit Cost 56 Date of Purchase Jan. 10 Jan. 18 Totals Units 5,000 6,000 11,000 Total Cost $30,000 42,000 72,000 Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan 12 Jan 20 Total Units 3,000 2,000 4,000 8.000 units were on hand at the end of the month Problem 8-5 (Algo) Part 5 N a W hp 5. Calculate January's ending Inventory and cost of goods sold for the month using Average cost, perpetual system. (Round avere cost per unit to 4 decimal places. Enter sales with a negative slgn.) Inventory on hand Cast of Goods Sold Perpetual Average # of units Cost per unit Inventory Value # of units sold Avg.Cost per unit Cost of Goods Sold 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 a W N