homework Based Ferris Company began January with 7000 units of its principal product. The cost of each units $8 Merchandise transactions for the month of January are as follows Pude Dito Date of Purchase Ja. 10 Jan. 18 Total thita 4000 17.00 11.000 no Total com $36.000 70.000 106,00 Includes purchase price and cost of freight Saler Date of Sale Jan 5 Jan. 12 3.000 1.00 4.000 8.000 Total 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 Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO Cost of Goods Available for Sale Cost of Goods Available for Sale 5 0 Cost per of units Fof units Cost per of units sold Cost of Goods Sold Cost per unit Ending Inventory Inventory $ 0.00 $ $ 000 $ 0 $ 10.00 0 Beginning Inventory Purchases January 10 January 18 Total s 0 P7000 5 10.00 3.000 $ 9.00 10,000 70,000 27.000 97.000 $ 10.00 9.00 9.00 0 S $ 0 $ 0 0 $