Required information [The following information applies to the questions displayed below.] A company began January with 9,000 units of its principal product. The cost of each unit is $4. Inventory transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost$ Total Cost January 10 6,000 $ 30,000 January 18 9, 000 54, 900 Totals 15, 000 $ 84,900 * Includes purchase price and cost of freight. Sales Date of Sale Units January 5 5,000 January 12 3,000 January 20 6,000 Total 14,900 10,000 units were on hand at the end of the month. . Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO Cost of Number of LIFO Number Cost per Goods Number of Cost per Cost of units in Cost per Ending of units unit Available for units sold unit Goods Sold ending unit Inventory Sale inventory Beginning Inventory 9,000 $ 4.00 $ 36,000 $ 4.00 $ 0 4.00 $ 0 Purchases: January 10 6,000 $ 5.00 30,000 $ 5.00 5.00 January 18 9,000 $ 6.00 54,000 $ 6.00 6.00 Total 24,000 $ 120,000 0 $ 0 0Required information [The following information applies to the questions displayed below.] A company began January with 9,000 units of its principal product. The cost of each unit is $4. Inventory transactions for the month of January are as follows: Date of Purchase Purchases Units Unit Cost* Total Cost January 10 6,000 5 $ 30,000 January 18 9, 000 54,000 Totals 15, 000 $ 84,000 * Includes purchase price and cost of freight. Sales Date of Sale Units January 5 5,000 January 12 3,000 January 20 6,000 Total 14,000 10,000 units were on hand at the end of the month. 3. Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system. Cost of Goods Available for Sale Cost of Goods Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Inventory Balance Perpetual FIFO: Cost of Unit Goods Number Number Number Number of Number Cost of Cost of of units Cost Available for of units Cost per Cost per Cost of Cost per units in Cost per Ending unit Goods Sold of units unit Goods Sold of units unit Goods Sold ending unit Inventory Sale sold sold sold inventory Beginning Inventory 9,000 $ 4.00 $ 36,000 4.00 $ 4.00 $ 0 $ 4.00 $ 0 $ 4.00 0 Purchases January 10 6.000 5.00 30,000 5.00 5.00 5.00 5.00 C January 18 9,000 6.00 54,000 6.00 6.00 5.00 6.00 LO Total 24,000 $ 120,000 0 $ 0 0 $ 0 0 $ 0 0 $ 0Required information [The following information applies to the questions displayed below.] A company began January with 9,000 units of its principal product. The cost of each unit is $4. Inventory transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost January 10 6, 000 $ 5 $ 30,000 January 18 9, 000 54, 000 Totals 15, 000 $ 84,900 * Includes purchase price and cost of freight. Sales Date of Sale Units January 5 5,000 January 12 3,000 January 20 6,000 Total 14, 000 10,000 units were on hand at the end of the month. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Cost of Number of Average Cost Number Unit Goods Number of Average Cost of units in Average Cost per Ending of units Cost Available for | units sold Cost per Unit Goods Sold ending Inventory inventory unit Sale Beginning Inventory 9,000 $ 4.00 $ 36,000 Purchases January 10 6,000 $ 5.00 30,000 January 18 9,000 $ 6.00 64,000 Total 24,000 $ 120,000Required Information [The following Information applies to the questions displayed below.] A company began January with 9,000 units of its principal product. The cost of each unit is $4. Inventory transactions for the month of January are as follows: Date of Purchase Purchases Units Unit Cost* Total Cost January 10 6, 000 $ 30,080 January 18 9, 080 54,000 Totals 15, 080 $ 84, 060 * Includes purchase price and cost of freight. Sales Date of Sale Units January 5 5,080 January 12 3, 080 January 20 6,080 Total 14, 080 10,000 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. Note: Round average cost per unit to 4 decimal places. Enter sales with a negative sign. Inventory on hand Cost of Goods Sold Perpetual Average Number Cost per Inventory Number Average Value of units Cost per Cost of of units unit sold unit Goods Sold Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase - January 10 Subtotal Average Cost Sale - January 12 Subtotal Average Cost Purchase - January 18 Subtotal Average Cost Sale - January 20 Total