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Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows:

5 Required information (The following information applies to the questions displayed below.] Part 4 of 5 Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: 7.5 Purchases Date of Purchase Units Unit Cost* Total Cost points Jan. 10 5,000 6 $30, 090 Jan. 18 6,000 7 42,000 Totals 11, 000 72,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,090 Jan. 12 2,060 Jan. 20 4,000 Total 9,090 8,000 units were on hand at the end of the month. 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Cost of Goods Available for Sale | Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Cost of Average Cost Goods # of units Average # of units Average # of units Unit Cost per Cost of Cost per Ending Cost Available for in ending sold Unit Goods Sold inventory unit Inventory Sale Beginning Inventory 6,000 $ 5.00 S 30,000 Purchases January 10 5,000 $ 6.00 30,000 January 18 6,000 $ 7.00 42,000 Total 17,000 S 102,000