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Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January
Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Purchases Unit Cost $ 5 Units 6,000 9,000 15, eee Total Cost $36,000 53,000 99,000 Includes purchase price and cost of freight Sales Date of Sale Son 5 Jan 12 Jan. 20 Total Units 5,000 3.000 6,000 14.00 10,000 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 over cost per unit to 4 decimal places. Enter sales with a negative sign.) Re Answer is complete but not entirely correct. ods Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold January 20 Inventory Balance Part 3 of 5 Cost Cost or unit Cost of Goods Sold W of units sold Cost per unit Cost of Goods Sold of units sold per unit Cost of Goods Sold of units in ending inventory Cost per un Ending leventory 2 DOS 5.00 $ 25,000 3,000 $5.00 $ 15,000 1,000 5500 $ 5,000 5 500 $ 0 2.000 6.00 7.00 0 0 $ 25,000 6.00 7.00 6.00 7.00 12,000 0 $ 17.000 6.00 700 0 4.000 3 9.000 13.000 24.000 63.000 5 87.000 3,000 $ 15,000 3.000
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