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: Purchases Unit Cost Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 9,000 15,000 Total Cost $36,000 63,000 99,000 * Includes purchase price and cost of freight Sales Date of Sale Jan.5 Jan. 12 Jan. 20 Units 5,000 3,000 6.000 14.00 Total 10,000 units were on hand at the end of the month SHEETS 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost of Goods Available for Sale Cost of of units Cost per Goods unit Available for Sale # of units sold Cost per unit I Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning Inventory Purchases January 10 January 18 Total 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO LIFO Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for # of units sold Cost per unit Cost of Goods Sold Cost per #of units in ending inventory Ending Inventory Sale Beginning Inventory Purchases January 10 January 18 Total 3. 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 Perpetual FIFO of Unit Cost of Goods Available for of units Cost per unit Cost of Goods Sold of units Cost per sold ink Cost of Goods sold #of units Cost per sold und Cost of Goods Sold! Cost Beg Inventory (Purchases January 10 January 18 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, pero system Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Cost of Goods Available for Sale Cost of Unit Goods of units t ailable for Sale Average of units sold Cost of oods Sold # of units in ending inventor ventory Average Cost per unit Ending Inventory Unit Beginning Inventory Purchases January 10 January 18 Total 1 YUC Diy . Inventory on hand Cost of Goods Sold Perpetual Average # of units Cost per unit Inventory Value # of units sold Avg.Cost per unit Cost of Goods Sold 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