Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: * Includes purchase price and cost of freight. 10,000 units were on hand at the end of the month. roblem 8-5 (Algo) Part 5 . Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average ost per unit to 4 decimal places. Enter sales with a negative sign.)