Problem 8-5 Various inventory costing methods LO8-1, 8-4l Ferris Company began 2013 with 4,000 units of its principal product. The cost of each unit is $6 Merchandise transactions for the month of January 2013 are as follows: Purchases Date of Purchase Units Unit Cost Total Cost 3,000 7 Jan. 10 $21,000 4,000 32,000 Jan. 18 7,000 Totals $53,000 *Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 6,000 Total 5,000 units were on hand at the end of the month. Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives