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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
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 S6 Date of Purchase Jun. 10 Jan 1 Totais Units 5.000 6,000 11,000 Total Cost 330,000 42.000 22,000 Includes purchase price and cost of freight Date of Sale an Units . , Total B,000 units were on hand of the end of the month 5. Calculate January's onang 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.) 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.) Cost of Goods Sold Perpetual Average Inventory on hand Cost per Inventory of units unit Value of units sold Avg.Cost per unit Gost of Goods Sold Beginning inventory Saanuary 5 Subtotal Average Cost Purchase anuary 10 Subtotal Average Cost Sushuary 12 Sutiotat Average cost Pusthassy 15 SA CON 20
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