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. 19 Jan. 18 Totals Units 6,000 9,000 15,000 Purchases Unit Cost $6 2 Total Cost $36,000 63,280 99,000 Includes purchase price and cost of freight Seles Date of Sale Jans To 12 Jan 20 Total Units 5.000 3,008 6,000 14,000 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 average cost per unit to 4 decimal places. Enter sales with a negative sign.) ! Required information Perpetual Average Inventory Value Cost # of units per unit 9,000 5.0000 5,000 X 5.0000 # of units sold Avg.Cost per unit $ 45,000 25,000 14,000 5.0000 70,000 6,000 6.0000 36.000 20,000 5.3000 x 106,000 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 3,000 X 5.3000 X 23,000 5.3000 X 15,900 121,900 9,000 7.0000 63,000 32,000 5.7781 X 184,900 6,000 X 5.7781 X 34,669 38,000 $ 219,569 0 $