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please solve question 5 first !!! ! Required information The following information applies to the questions displayed below) Ferris Company began January with 4,000 units
please solve question 5 first !!!
! Required information The following information applies to the questions displayed below) Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Units 3,000 4,000 7.000 Purchases Unit Cost: $ 7 8 Total Cost $21,000 32,000 53,000 Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 2,000 1,000 3,000 6.000 5,000 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.) 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.) Perpetual Average 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 Inventory on hand Cost of Goods Sold Cost per Inventory # of units Avg.Cost Cost of # of units unit Value sold per unit Goods Sold 4.000 6.0000 $ 24,000 0 0.00001 0 4,000 6.0000 24,000 3,000 7.0000 21,000 7,000 45,000 0 7,000 45,000 4,000 8.0000 32,000 11,000 77,000 0 11,000 $ 77,000 0 $ 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost periodic system. Average Cost Answer is complete but not entirely correct. Cost of Goods Sold - Average Ending Inventory - Average Cost Cost # of Average Cost of # of units Average Ending units Cost Goods in ending Cost Inventory sold Sold per Unit Inventory Cost of Goods Available for Sale Cost of # of Unit Goods units Cost Available for Sale 4.000 $6.00 $ 24,000 por unit Beginning inventory Purchases January 10 January 18 Total 3,000 4,000 11,000 $7.00 $8.00 21,000 32,000 $ 77,000 6,000 $ 6.75 $ $ 40,500 5,000 7.30 $ $ 36,500 Step by Step Solution
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