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: Purchase Unit Cost Date of Purchase Jan. 10 Jan. 10 Totale Unite 6.000 0.000 14,000 Total cost $ 40,000 12.000 120,000 Includes purchase price and cost of freight Date of a JAR. 5 Jan. 12 Jan. 20 Total 4,000 2,000 3.000 11,000 11000 units were on hand at the end of the month 3. Calculate Januarys ending inventory and cost of goods sold for the month using FIFO perpetual system Cast of Good Gold January Cost of Goods Bold January 12 Coat of Goede Seld-Jeay 20 Costa Der Coat of Goods Available for Sale Cost of of Un Goode unite Cast Available for Sale 6.000 7.00 $ 0.000 Cost per of units ending of Cost per sold unit en Costa sold Coo Goods Sold Goods Sold Coster Cose un Gede Sald une sold Ending Inventory 5 $ 700$ 7.00 $ 4.000 $ 5 7.00 $ 7.00 5 26.000 O or Benventory Purcha January 10 January 18 Total 100 6.000 3.000 8.00 0.00 8.00 900 8.00 9.00 8.00 9.00 ol 0 48.000 72.000 ST.000 D 0 26.000 O 5 $ S 0 0 S 4.000 $ 22.000