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:

Date of Purchase Jan. 10 Jan. 18 Totals Units 5,000 8,000 13,000 Purchases Unit Cost $ 10 11 Total Cost $ 50,000 88,000 138,000 Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 3,000 3,000 4,000 10,000 11,000 units were on hand at the end of the month. Required: 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Ending Inventory - Periodic FIFO FIFO Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Cost of Cost per Goods # of units # of units Cost per Cost of unit Available for sold unit Goods Sold Sale 8,000 $ 9.00 $ 72,000 $ 9.00 # of units in ending inventory Cost per unit Ending Inventory $ $ 9.00 Beginning Inventory Purchases: January 10 January 18 Total $ $ 5,000 $ 10.00 8,000 $ 11.00 21,000 50,000 88,000 210,000 10.00 11.00 10.00 11.00 $ $ $ 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. LIFO Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Cost of Cost per Goods # of units Cost per Cost of # of units unit Available for sold unit Goods Sold Sale 8,000 $ 9.00 $ 72,000 $ 9.00 Ending Inventory - Periodic LIFO # of units Cost per Ending in ending unit Inventory inventory $ 9.00 Beginning Inventory Purchases: January 10 January 18 Total $ 10.00 5,000 $ 10.00 8,000 $ 11.00 21,000 50,000 88,000 210,000 $ $ 10.00 11.00 $ $ 11.00 $ 3. Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system. Cost of Goods Available for Sale Cost of Goods Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Inventory Balance Perpetual FIFO: # of units sold Cost of # of Unit Goods units Cost Available for Sale 8,000 $ 9.00 $ 72,000 Cost per unit Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 9.00 $ 9.00 $ 9.00 $ 9.00 $ 0 Beg. Inventory Purchases: January 10 January 18 Total 10.00 50,000 10.00 0 5,000 8,000 21,000 10.00 11.00 10.00 11.00 10.00 11.00 11.00 11.00 0 88,000 210,000 $ 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 Goods Sold - Average Cost Cost of Unit Goods # of units Average Cost of # of units Cost Available for sold Unit Sale 8,000 $ 9.00 $ 72,000 Ending Inventory - Average Cost # of units Average in ending Cost per Ending inventory unit Inventory Cost per Goods Sold Beginning Inventory Purchases: January 10 January 18 Total 5,000 $ 10.00 8,000 $ 11.00 21,000 50,000 88,000 210,000 $ 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.) Perpetual Average Inventory on hand Cost per # of units Inventory unit Value Cost of Goods Sold # of units Avg.Cost Cost of sold per unit Goods Sold Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase - January 10 Subtotal Average Cost Sale - January 12 Subtotal Average Cost Purchase - January 18 Subtotal Average Cost Sale - January 20 Total