Required Information Problem 8-5 (Algo) Various inventory costing methods [LO8-1, 8-4] [The following information applies to the questions displayed below.] Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Unita Jan. 10 5,000 Unit Cost $ 7 Total Cost Jan. 18 6,000 $35,000 48,000 Totals 11,000 83,000 Includes purchase price and cost of freight. Date of Sale Jan. 5 Jan. 12 Jan. 201 Total Sales Units 3,000 2,000 4,000 9,000 8,000 units were on hand at the end of the month. Problem 8-5 (Algo) Part 5 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average enet nar unit in A danimal alarae Enter solar with a nanatiua elan l