! Required information (The following information applies to the questions displayed below.) Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 9,000 15,000 Purchases Unit Cost* $ 6 7 Total Cost $36,000 63,000 99,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 5,000 3,000 6,000 14,000 10,000 units were on hand at the end of the month. 2. 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 Goods # of units unit Available for Sale Cost per Cost per # of units sold Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory unit Beginning Inventory 9,000 $ 5.00 45,000 $ $ 5.00 0 $ 5.00 0 Purchases: $ 6.00 O o O 6.00 0 January 10 January 18 6,000 $ 6.00 9,000 $ 7.00 24,000 36,000 63,000 144,000 $ 7.00 0 7.00 0 Total 0 $ 0 O 0 0 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 Cost of Goods Sold Perpetual Average # of units Cost per unit Inventory Value # of units Avg.Cost sold Cost of Goods Sold per unit $ 0 0 0 0 0 0 0 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 0 0 0 0 0 0 0 Total 0 0 0 $ 0