Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $4. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 5 $ 30,000 Jan. 18 9,000 6 54,000 Totals 15,000 84,000 * 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. Required: 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system.