Required information [The following information applies to the questions displayed below] Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $8. Merchandise. transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost Total Cost Jan. 10 6,000 $ 9 Jan. 181 9,000 10 Totals 15,000 $ 54,000 90,000 144,000 *Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 5,000 Jan. 12. 3,000 Jan. 201 6,000 Total 14,000 10,000 units were on hand at the end of the month. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Average Cost # of units Unit Cost Cost of Goods Available for Sale # of units sold 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Ending Inventory Average Cost # of units in ending inventory Average Cost per unit Ending Inventory Average Cost per Unit Cost of Goods Sold Beginning Inventory 9,000 $ 8.00 $ 72,000 Purchases January 101 January 18 Total 6,000 $9.00 54,000 9,000 $10.00 90,000 24,000 $ 216,000