Required information (The following information applies to the questions displayed below.) 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 Units 5,000 8,000 13,000 Purchases Unit Costs $10 11 Total Cost $ 50,000 88,000 138,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 3,000 3,000 4.000 10,000 11,000 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. FIFO Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Cost of Cost Goods # of units # of units Cost per Cost of per unit Available for sold unit Sale 8.000 S 9.00 $ 72.000 $ $ 9.00 Ending Inventory - Periodic FIFO # of units Cost per Ending unit Inventory Inventory Goods Sold in ending S 9.00 Beginning Inventory Purchases: January 10 January 18 Total 50.000 5,000 S 10.00 8,000 S 11.00 21,000 $ 10.00 $ $ 11.00 $ $ $ 10.00 11.00 88.000 $ 210,000