January 10 3,000 January 18 Totals 4,000 10 7,000 *Includes purchase price and cost of freight. Sales Date of Sale Units January 5 2,000 January 12 1,000 January 20 3,000 Total 6,000 5,000 units were on hand at the end of the month. $ 21,000 40,000 $ 67,000 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. Note: Round average cost per unit to 4 decimal places. Enter sales with a negative sign. Answer is complete but not entirely correct. Inventory on hand Cost of Goods Sold Perpetual Average Number Cost Number per of units Inventory Value of units unit sold Average Cost per unit Cost of Goods Sold Beginning Inventory 4,000 8.0000 32,000 Sale - January 5 (2,000) 8.0000 (16,000) 2,000 $ 8.0000 $ 16,000 Subtotal Average 2,000 8.0000 16,000 Cost Purchase January 3,000 9.0000 27,000 10 Subtotal Average 5,000 8.6000 43,000 Cost Sale- January 12 (1,000) 0.0000 0 1,000 $ 0.0000 $ 0 Subtotal Average: 4,000 0.0000 43,000 Cost Purchase January 4,000 ( 10.0000 40,000 18. Subtotal Average 8,000 0.0000 83,000 Cost Sale January 20 (3,000) 0.0000 0 Total 5,000 $ 83,000 3,000 6,000 $ 0.0000 0 $ 16,000