Required information The following information applies to the questions displayed below) Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $6 Merchandise transactions for the month of January are as follows > Purchases Unit Cost $ Date of Purchase Jan. 10 Jan 18 Totals mit 6.000 000 13,000 Total CON 342,000 56,000 98,000 Includes purchase price and cost of freight Sales Date of Sale an 5 on 12 Jan. 20 Total Units 3.000 3.000 4,000 10,000 2. Calculate January's ending inventory and cost ot goods sold for the month using LIFO periodic system Costo de Sale Cost of Goods Sold cout per Doods Avto Bon Cost per Contol Goode inn Inry 7000 5 600 5 2.000 5 6005 5 600 Beginning Inventory Purchases January 10 January 18 Total ol 6,000 5700 7,000 5 800 20.000 12.000 56.000 140.000 700 8.00 $ 5 700 300 5 . 5 . 5 $