Required information (The following information applies to the questions displayed below.) Part 1 of 5 18.18 points 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 Unit Cost* $ 7 Date of Purchase Jan. 10 Jan. 18 Totals Units 5,000 6,000 11,000 Total Cost $35,000 48,000 83,000 eBook Print * Includes purchase price and cost of freight. References Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 3,000 2,000 4,800 9,000 8,000 units were on hand at the end of the month. Required: 1. 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 # of units Cost per Goods unit Available for Sale # of units Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning Inventory Purchases: January 10 January 18 Total