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 $8. Merchandise transactions for the month of January are as follows: W Date of Purchase Jan. 10 Jan. 18 Totals Sales Units 5,000 6,000 11,000 Date of Sale Jan. 5 Jan. 12 Jan. 20 Purchases * Includes purchase price and cost of freight. Units 3,000 2,000 4,000 Unit Cost* $9 10 Total Cost $ 45,000 60,000 $105,000

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 $8. Merchandise transactions for the month of January are as follows: - Includes purchase price and cost of freight. - Includes purchase price and cost of freight. 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 averag cost per unit to 4 decimal places. Enter sales with a negative sign.) Required information \begin{tabular}{|l|l|l|l|l|l|} \hline Beginning Inventory & & & & & \\ \hline Sale - January 5 & & & & & \\ \hline Subtotal Average Cost & & & & & \\ \hline Purchase - January 10 & & & & & \\ \hline Subtotal Average Cost & & & & & \\ \hline Sale - January 12 & & & & & \\ \hline Subtotal Average Cost & & & & & \\ \hline Purchase - January 18 & & & & & \\ \hline Subtotal Average Cost & & & & & \\ \hline Sale - January 20 & & & & & \\ \hline Total & & & & & \\ \hline \end{tabular}