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: Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 8,000 14,000 Purchases Unit Cost. $ 9 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. tes Required: 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO periodic system Cost of Goods Sold - Periodic FIFO FIFO #of units Cost per Cost of Goods Available for Sale Cost of Goods unit Available for Sale 8,000 $ 8.00 $ 84.000 of units sold Cost per unit Cost of Goods Sold El Balodic FIFO Assessment Tool Frame # of units Cost per In ending Ending unit Inventory Inventory 5 8.00 $ 0 $ 8.00 $ 0 Beginning Inventory Purchases January 10 January 18 Total $ 0 $ 0 6,000 $9.00 8,000 $ 10.00 22.000 54,000 80,000 198,000 9.00 10.00 9.00 10.00 $ 0 $ 0 $ 0 $ 0 0 $ 0