{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-06T07:00:45-04:00", "answer_date": "2024-06-06 07:00:45", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2347057", "url": "\/study-help\/questions\/ferris-company-began-january-with-8000-units-of-its-principal-2347057", "question_creation_date_js": "2024-06-06T07:00:45-04:00", "question_creation_date": "Jun 06, 2024 07:00 AM", "meta_title": "[Solved] Ferris Company began January with 8,000 u | SolutionInn", "meta_description": "Answer of - Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $9. Merchandise trans | SolutionInn", "meta_keywords": "ferris,company,began,january,8,000,units,principal,product,cost,unit,$9,merchandise", "question_title_h1": "Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January", "question_title": "Ferris Company began January with 8,000 units of its principal product. The", "question_title_for_js_snippet": "Ferris Company began January with 8,000 units of its principal product The cost of each unit is $9 Merchandise transactions for the month of January are as follows Purchases Date of Purchase Units Unit Cost Jan 10 5,000 Jan 18 8,000 $10 11 Total Cost $ 50,000 88,000 Totals 13,000 138,000 Includes purchase price and cost of freight Sales Date of Sale Units Jan 5 3,000 Jan 12 3,000 Jan 201 4,000 Total 10,000 11,000 units were on hand at the end of the month 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 ) 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 ) Inventory on hand Cost of Goods Sold Perpetual Average of units unit Value Cost per Inventory of units Avg Cost per unit Cost of sold Goods Sold Beginning Inventory Sale January 5 Subtotal Average Cost 8,000 9 0000 $ (3,000) 9 0000 5,000 9 0000 72,000 (27,000) 45,000 3,000 $ 9 0000 $ 27,000 Purchase January 10 5,000 10 0000 50,000 Subtotal Average Cost 10,000 95,000 Sale January 12 (3,000) 0 3,000 $ 0 0000 $ 0 Subtotal Average Cost 7,000 95,000 Purchase January 18 8,000 11 0000 88,000 Subtotal Average Cost 15,000 183,000 Sale January 20 (4,000) 0 4,000 $ 0 0000 0 Total 11,000 $ 183,000 10,000 $ 27,000", "question_description": "\"image\"image Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost Jan. 10 5,000 Jan. 18 8,000 $10 11 Total Cost $ 50,000 88,000 Totals 13,000 138,000 *Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,000 Jan. 12 3,000 Jan. 201 4,000 Total 10,000 11,000 units were on hand at the end of the month. 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.) 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.) Inventory on hand Cost of Goods Sold Perpetual Average # of units unit Value Cost per Inventory # of units Avg.Cost per unit Cost of sold Goods Sold Beginning Inventory Sale- January 5 Subtotal Average Cost 8,000 9.0000 $ (3,000) 9.0000 5,000 9.0000 72,000 (27,000) 45,000 3,000 $ 9.0000 $ 27,000 Purchase January 10 5,000 10.0000 50,000 Subtotal Average Cost 10,000 95,000 Sale-January 12 (3,000) 0 3,000 $ 0.0000 $ 0 Subtotal Average Cost 7,000 95,000 Purchase-January 18 8,000 11.0000 88,000 Subtotal Average Cost 15,000 183,000 Sale January 20 (4,000) 0 4,000 $ 0.0000 0 Total 11,000 $ 183,000 10,000 $ 27,000", "transcribed_text": "", "related_book": { "title": "Global Strategy", "isbn": "0357512367, 978-0357512364", "edition": "5th Edition", "authors": "Mike W. Peng", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/649592eaa157d_32303.jpg", "uri": "\/textbooks\/global-strategy-5th-edition-9780357512364", "see_more_uri": "" }, "free_related_book": { "isbn": "1544542755", "uri": "\/textbooks\/mastering-your-momentum-close-the-gaps-in-15-critical-areas-of-your-financial-advisory-business-to-achieve-confidence-focus-and-freedom-1st-edition-978-1544542751-327708", "name": "Mastering Your Momentum Close The Gaps In 15 Critical Areas Of Your Financial Advisory Business To Achieve Confidence Focus And Freedom", "edition": "1st Edition" }, "question_posted": "2024-06-06 07:00:45", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-probability-distribution-of-the-net-deposit-drain-of-a", "description": "The probability distribution of the net deposit drain of a DI has been estimated to have a mean of 2 percent. a. 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