Required Information [The following information applies to the questions displayed below.] A company began January with 4,000 units of its principal product. The cost of each unit is $8. Inventory transactions for the month of January are as follows: Date of Purchase January 10 January 18 Totals Total Date of Sale January 5 January 12 January 20 Total - Includes purchase price and cost of freight. Sales FIFO Beginning Inventory Purchases Units 3,000 4,000 7,000 January 10 January 18 Units 2,000 1,000 3,000 6,000 5,000 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. Purchases Number Cost of units per unit 4.000 $8.00 Unit Cost* 3,000 $ 9.00 4,000 $10.00 11,000 $9 10 Cost of Goods Available for Sale Cost of Goods Available for Sale 32,000 $ $ Total Cost $ 27,000 40,000 $ 67,000 27,000 40,000 99,000 Cost of Goods Sold - Periodic FIFO Number of units sold Cost per unit $ 8.00 S 9.00 S 10.00 Cost of Goods Sold Ending Inventory - Periodic FIFO Number of units in ending inventory FILTE Cost per unit $ 8.00 S 9.00 $ 10.00 Ending Inventory

Required information [The following information appiles to the questions displayed below] A company began January with 4,000 units of ns principal product. The cost of each unit is $8. Invertory transactions for the month of January are as follows. - Includes purchase price and cost of frelght. 5,000 units were on hand at the end of the month. Required: 1. Calculate Januarys ending inventory and cost of goods sold for the month using FIFO, periodic system