Required information [The following information applies to the questions displayed below.] Ferris Company began January with 6,000 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, eee 6, eee 11, eee Purchases Unit Cost $ 10 11 Total Cost $ 50,000 66,000 116 , * Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 2e Total Units 3,888 2,600 4,eee 9,800 8,000 units were on hand at the end of the month. 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.) Perpetual Average Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase. January 10 Subtotal Average Cost Sale - January 12 Subtotal Average Cost Purchase - January 18 Subtotal Averago Cost Sale - January 20 Total Inventory on hand Cost of Goods Sold Cost per # of units Inventory # of units Avg.Cost Cost of unit Value sold per unit Goods Sold 6.000 9.0000 s 54,000 (3,000) 9.0000 (27.000) 3,000 $ 9.0000 $ 27,000 3,000 9.0000 27.000 5,000 10.0000 50.000 8,000 77,000 (2.000) 0 2,000 $ 0.0000 $ 0 6,000 77,000 6,000 11.00001 66,000 12,000 143,000 (4,000) 0 4,000 $ 0.0000 0 8,000 $ 143,000 9,000 $ 27,000