Required Information [The following information applies to the questions displayed below.] Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7 Merchandise transactions for the month of January are as follows: Purchases Unit Cost Units 3,000 4,000 $ Date of Purchase Jan. 1e Jan. 18 Totals 8 Total Cost $24,000 36,000 60,000 7.000 * Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 2,000 1,000 3.000 5.000 5,000 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 Sold - Average Cost Ending Inventory - Average Cost Cost of Goods Available for Sale Cost of Goods Unit # of units Cost Available for Average cost of units Cost of Average Cost per Unit #of units sold Average Cost per Ending Inventory Goods Sold in ending Inventory Sale Beginning inventory Purchases January 10 January 18 Total