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 Unit Cost* $ 10 Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 8,000 14,000 Total Cost $ 60,000 88,000 148,000 11 * 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 12,000 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.) Answer is complete but not entirely correct. Perpetual Average # of units sold Cost of Goods Sold Cost of Avg.Cost Goods per unit Sold Inventory on hand Cost # of Inventory per units Value unit 8,000 9.0000 $ 72,000 3,000 X 9.0000 27,000 11,000 9.0000 99,000 6,000 10.0000 60,000 159,000 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 17,000 3,000 X 20,000 8,000 28,000 4,000 32,000 10.7340 X 10.7340 10.7340 11.0000 10.0358 10.0358 X 32,202 191,202 88,000 279,202 40,143 $ 319,345 0 $ 0