Ferris Company began January with 9,000 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 Units Purchases Unit Cost* Total Cost Jan. 10 6,000 $ 9 Jan. 18 9,000 10 Totals 15,000 $ 54,000 90,000 144,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 5,000 Jan. 12 3,000 Jan. 20 6,000 Total 14,000 10,000 units were on hand at the end of the month. B. 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 Unit Cost Cost of Goods Available for Sale # of Cost per units unit Cost of # of units Goods Sold sold Cost per unit Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold sold # of units in ending inventory Cost per unit Ending Inventory Beg. Inventory 9,000 $ 8.00 $ 72,000 $ 8.00 $ 0 $ 8.00 $ 0 $ 8.00 $ 0 $ 8.00 $ 0 Purchases: January 10 6,000 9.00 54,000 9.00 0 9.00 0 9.00 0 9.00 0 January 18 9,000 10.00 Total 24,000 $ 90,000 216,000 10.00 0 10.00 0 10.00 0 10.00 0 0 $ 0 0 $ 0 0 $ 0 0 $