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:

	Purchases
Date of Purchase	Units		Unit Cost*			Total Cost
Jan. 10	6,000		$	9			$	54,000
Jan. 18	9,000			10				90,000
Totals	15,000							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.

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 Unit Goods # of units Cost Available for Sale 9,000 $ 8.00 $ 72,000 Cost of Goods Sold - Average Cost # of units Average Cost of Cost per sold Goods Sold Unit Ending Inventory - Average Cost # of units Average Ending Cost per in ending Inventory inventory unit Beginning Inventory Purchases: January 10 January 18 Total 6,000 $ 9.00 9,000 $10.00 24,000 54,000 90,000 216,000 $