Problem 8-5 Various inventory costing methods (LO8-1,8-4) Ferris Company began 2018 with 8,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January 2018 are as follows: Purchases Unit Conte Date of Purchase Jan. 10 Jan. 18 Totals Units 6.000 3.000 14,000 Total Coat $42.000 64.000 106,000 "Includes purchase price and cost of freight Date of Sale Jan. 5 Jan. 12 Jan. 20 Total 4.000 2.000 4.000 10.000 12,000 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: 1. FIFO, periodic system, 2. LIFO, periodic system. 3. LIFO, perpetual system 4. Average cost, periodic system 5. Average cost, perpetual system. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 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 funt Cost per Goods unit Available for Salo # of units sold Cost per unit Cost of Goods Sold # of units In ending Inventory Cost per unit Ending Inventory $ 0.00 $ 0 $ 0.00 $ Beginning Inventory Purchases: January 10 January 18 Total $ $ 0.00 0.00 $ $ 0 0.00 0.00 12,000 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: 1. FIFO, periodic system 2. UFO, periodic system. 3. LIFO, perpetual system 4. Average cost, periodic system, 5. Average cost, perpetual system Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 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 f it Cost per Goods unit Available for Sale Cost per Cost of of units sold unit # of units in ending inventory Cost per unit Goods Sold Ending Inventory $ 0.00 $ 0 $ 0.00 S Beginning Inventory Purchases January 10 January 18 Total op $ 0.00 0 30. 000 $ 0.00 01 S 0.00 0500 500 or 0 ( Required Required 3 > 12,000 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: 1. FIFO, periodic system. 2. UFO, periodic system 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Inventory Balance Costos of cost per Cost of Goods of units cost per unit un s ons Cost per Ending in ending unit units unit invento unit Inventory Calculate January's ending Inventory and cost of goods sold for the month using LIFO, perpetual system. Cost of Goods Available for Cost of Goods Sold - Cost of Goods Sold - January Cost of Goods Sold - January 5 Perpetual Cost of of Cost of of Cost LIFO: Cost of Goods Available unit sold Sold sold Sold Sold Beg Inventory $0.00 $ ol $ 0.00 $ of $0.00 $ 0 Purchases 0. 000 January 10 0. 000 0.000 0.00 0. 0001 0 0. 00 0 January 18 0 for a $0.00 $ 0 0.00 0.00 0 0 quired R ed > 12,000 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: 1. FIFO, periodic system, 2. LIFO, periodic system, 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Cost of Goods Available for Sale Cost of of units Unit Goods ' Cost Available for Sale of units sold Average Cost per Unit Cost of Goods Sold 0000 sold of units in ending Inventory Average Cost per unit Ending Inventory Beginning Inventory Purchases: January 10 January 18 $ 0 $ S (Required Required > Complete this question by entering your answers in the tabs below. Required i Required 2 Required 3 Required 4 Required 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.) Inventory on hand Perpetual Average # of units Cost per unit Inventory Value Cost of Goods Sold # of units Avg.Cost Cost of sold per unit Goods Sold 09 of 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 0 $ 0