Required information (The following information applies to the questions displayed below.] m PM Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Purchases Unita Unit Coat 5,000 s S 10 9,000 11 13,000 Total Cost $ 50,000 90,000 138,000 H Includes purchase price and cost of freight HV Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Unita 3,000 3,000 4,000 10,000 11,000 units were on hand at the end of the month. HV 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Average Cost Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Cost of Unit Goods # of units Average Cost of # of units Cost Available for sold Unit Sale 8.000 $ 9.000 $ S 72.000 Ending Inventory - Average Cost # of units Average Cost per Ending Inventory inventory unit Cost per Goods Sold In ending Beginning Inventory Purchases: January 10 January 16 Total 5,000 $10.00 8.000 S 11.00 21,000 50.000 88,000 $ 210,000