Required information [The following information applies to the questions displayed below.] A company began January with 4,000 units of its principal product. The cost of each unit is $6. Inventory transactions for the month of January are as follows: Date of Purchase Units January 10 3,000 Purchases Unit Cost $ 7 Total Cost January 18 4,000 8 $ 21,000 32,000 Totals 7,000 $ 53,000 *Includes purchase price and cost of freight. Sales Date of Sale Units January 5 2,000 January 12 1,000 January 20 3,000 Total 6,000 5,000 units were on hand at the end of the month.