Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost Total Cost Jan. 10 6,000 $ 48,000 Jan. 18 8,000 Totals 14,000 72,000 120,000 Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 4,000 Jan, 12 2,000 Jan. 20 5,000 Total 11,000 11.000 units were on hand at the end of the month Cast of Godde Available for Sale Cost of Goods Sold Pericidio LIFO 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system Ending Inventory Periodic LIFO LIFO of units Cosfuer unit Cost of Goodi Available for Sale at units sold Ceat per unit Cost of Goods Sold # of units In ending Cost per unit Beginning inventory 8.000 7.00 $ 56.000 000 7.00 $ 28 000 Inventory 50.000 7.00 $202.000 Ending Inventory Purchases January 10 00000 40.000 2000 3.00 10000 January 13 3.000 6.00 22.000 9 2000 176.000 5000 $ 11:000 9.001 45.000 $ 20 000 10,000 $ 46.000 $ 117,000 2.00 0.00 128 000 406 000 50025.000