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 $5. Merchandise transactions for the month of January are as follows: Date of Purchase Units Purchases Unit Cost Jan. 10 6,000 $6 Total Cost $36,000 Jan. 18 9,000 7 63,000 Totals 15,000 99,000 *Includes purchase price and cost of freight. G Sales Date of Sale Units Jan. 5 5,000 Jan. 12 3,000 Jan. 20 6,000 Total 14,000 10,000 units were on hand at the end of the month.