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: Date of Purchase Jan. 10 Jan. 18 Totals Units 5,000 6,000 11,000 Purchases Unit Cost* $ 10 11 Total Cost $ 50,000 66,000 116,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 3,000 2,000 4,000 9,000 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.) Answer is complete but not entirely correct. Cost of Goods Sold Perpetual Average # of units # of units sold Avg.Cost Inventory on hand Cost Inventory per Value unit 9.0000 $ 54,000 9.0000 (27,000) Cost of Goods Sold per unit 6,000 (3,000) 3,000 $ 9.0000 $ 27,000 3,000 9.0000 27,000 5,000 10.0000 50,000 8,000 9.6250 77,000 Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase - January 10 Subtotal Average Cost Sale - January 12 Subtotal Average Cost Purchase - January 18 Subtotal Average Cost Sale - January 20 0 x 0.0000 0 8,000 9.6250 77,000 8,000 X 11.0000 88,000 16,000 10.3100 X 165,000 0.0000 0 0 X 16,000 Total $ 165,000 3,000 $ 27,000