Required information [The following information applies to the questions displayed below.] Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January are as follows: Purchases Units Unit Cost* Date of Purchase Total Cost $ 50,000 66,000 $ 10 5,000 Jan. 10 Jan. 18 6,000 11 11,000 116,000 Totals Includes purchase price and cost of freight. Sales Units Date of Sale Jan. 5 3,000 2,000 Jan. 12 4,000 Jan. 20 9,000 Total 8,000 units were on hand at the end of the month 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 sold Cost per unit Inventory Value Avg.Cost per unit Cost of # of units Goods Sold $ Beginning Inventory 0 Sale - January 5 0 Subtotal Average Cost 0 Purchase January 10 0 Subtotal Average Cost 0 Sale January 12 0 Subtotal Average Cost 0 0 Purchase January 18 0 Subtotal Average Cost 0 0 Sale January 20 0 $ Total $ 0 0 0