Required information [The following information applies to the questions displayed below.] A company began January with 9,000 units of its principal product. The cost of each unit is $8. Inventory transactions for the month of January are as follows: Date of Purchase Units January 10 6,000 Purchases Unit Cost $ 9 Total Cost January 18 9,000 10 $ 54,000 90,000 Totals 15,000 $144,000 Includes purchase price and cost of freight. Sales Date of Sale Units January 5 5,000 January 12 3,000 January 20 6,000 Total 14,000 10,000 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. Next > Sales Date of Sale Units January 5 5,000 January 12 3,000 January 20 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 - Periodic FIFO FIFO Number Cost per unit of units Cost of Goods Required: 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Ending Inventory - Periodic FIFO Number of units in Number of Cost per Available for units sold unit Cost of Goods Sold Sale Beginning Inventory Purchases: 9,000 $ 8.00 $ 72,000 $ 8.00 ending inventory Cost per unit Ending Inventory $ 8.00 January 10 6,000 $ 9.00 54,000 $ 9.00 $ 9.00 January 18 9,000 $ 10.00 90,000 $ 10.00 $ 10.00 Total 24,000 $ 216,000