Required information [The following information applies to the questions displayed below.] Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost Jan. 10 3,000 $ 8 Jan. 18 4,000 9 Totals 7,000 Total Cost $24,000 36,000 60,000 Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 cest 1,000 Jan. 20 Total 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. Ending Inventory - Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO FIFO # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning Inventory 4,000 $ 7.00 $ 28,000 4,000 $ 7.00 $ 28,000 S 7.00 $ 0 Purchases: January 10 January 18 3,000 $ 8.00 24,000 8 $ 8.00 64 $ 8.00 Total 4,000 11,000 $ 9.00 36,000 9 $ 9.00 81 $ 9.00 $ 68,000 4,017 $ 28,145 0 $ 000 Required information [The following information applies to the questions displayed below.] Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Jan. 10 3,000 Unit Cost $ 8 Jan. 18 4,000 9 Totals 7,000 Total Cost $24,000 36,000 60,000 Includes purchase price and cost of freight. Sales Date of Sale Unite Jan. 5 2,000 Jan. 12 1,000 Jan. 20 Total 3,000 6,000 5,000 units were on hand at the end of the month. Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. Ending Inventory- Periodic LIFO LIFO of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units In ending Inventory Cost per unit Ending Inventory Beginning Inventory 4,000 $ 7.00 $ 28,000 $ 7.00 S 7.00 Purchases: January 10 January 18 3,000 $ 8.00 24,000 $ 8.00 $ 8.00 Total 4,000 11,000 $ 9.00 36,000 $ 9.00 $ 9.00 $ 88,000 nces [The following information applies to the questions displayed below] Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost Jan. 10 3,000 Jan. 18 4,000 Totals 7,000 Includes purchase price and cost of freight. Date of Sale Jan. 5 Jan. 12 Sales Unite 2,000 1,000 3,000 6,000 Total Cost $24,000 36,000 40,000 Jan. 20 Total 5,000 units were on hand at the end of the month 3. Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system Cost of Goods Available for Sale Cost of Goods Sold - January 5 Cost of Goods Sold-January 121 Cost of Goods Sold-January 201 Unit Beg Inventory Purchases January 10 January 18 Total unita Cost 4.000 $7.00 $ Cost of Goods Available for of Sale units sold Cost per unit Coat of Goods Sold sold of units Cost per unit Cost of Goods Sold #of units Cost per sold unit Cest of Goods Said of units in anding inventory Inventory Balance Cost per unit Ending Inventory 28,000 $ 7.00 $ 7.00 S 7.00 $ 7.00 $ 3.000 8.00 24,000 8.00 4,000 0.00 36,000 900 8.00 8.00 9.00 0 900 8.00 9.00 11,000 $ 58.000 ok W [The following information applies to the questions displayed below.] Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases. Date of Purchase Units Unit Cost Jan. 10 3,000 $8 Jan. 18 4,000 9 7,000 Totals Total Cost $24,000 36,000 60,000 Includes purchase price and cost of freight. Sales Units 2,000 1,000 3,000 6,000 rences Date of Sale Jan. 5 Jan. 12 Jan. 20 Total 5,000 units were on hand at the end of the month. 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Cost of Goods Available for Sale Cost of Goods Sold Average Cost Ending Inventory - Average Cost Average Cost # of units Unit Cost Cost of Goods Available for i Sale of units sold Average Cost per Unit Cost of Goods Sold of units In ending Inventory Average Cost per unit Ending Inventory Beginning Inventory 4,000 $7.00 $ 28,000 Purchases January 10 3.000 $ 8.00 24,000 January 18 4,000 $ 9.00 36,000 Total 11,000 S 88.000 [The following information applies to the questions displayed below.) Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase. Units Unit Cost Jan. 10. 3,000 $ 8 Jan. 18. 4,000 9 Totals 7,000 Total Cost $24,000 36,000 60,000 *Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 Total 3,000 6,000 5,000 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.) Perpetual Average Beginning Inventory Sale January 5 Inventory on hand #of units Cost per unit Inventory Value # of units sold Cost of Goods Sold Avg.Cost per unit Cost of Goods Sold Subtotal Average Cost Purchase January 10 Subtotal Average Cost Sale January 12 Me Subtotal Average Cost Purchase January 18 Subtotal Average Cost Sale January 20 Total