Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Unit Cost* Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 8,000 14,000 10 Total Cost $ 54,000 80,000 134,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 4,000 2,000 5,000 11,000 11,000 units were on hand at the end of the month. 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Average Cost Cost of Goods Available for Sale Cost of # of units Goods Cost Available for Sale 8,000 $ 8.00 $ 64,000 Ending Inventory - Average Cost # of units Average Ending Cost per in ending inventory Inventory unit Unit Cost of Goods Sold - Average Cost # of units Average Cost of Cost per sold Unit Goods Sold Beginning Inventory Purchases: January 10 January 18 Total 6,000 $ 9.00 8,000 $ 10.00 22,000 54,000 80,000 198,000 $ $ 0 $ $ 0