Required information [The following information applies to the questions displayed below.) Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 9,000 15,000 Purchases Unit Cost $ 6 7 Total Cost $36,000 63,000 99,000 Includes purchase price and cost of freight Sales Date of sale Jan. 5 Jan. 12 Jan. 20 Total Units 5,000 3,000 6,000 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 Sol January Cost of Goods SoldJanuary 12 Cost of Goods Sold January 20 Investory Balance of Cost of Goods Available for Sale Cesto Goods units Available for Sale 8,000 $5.00 $ 45000 Coster Coel Coat of Good Sold of units Cost per sold unt Cost of Goods Sold of unita Cost per sold NE Coutat Goods Dold of units intending Inventory Coster unit sol Ending Inwentary $ 5.00 $ . 5 500 5 5 5.00 0 $ 5.00 5 0 Boy Inventory Pinhas January 10 January 18 Total 0 6,000 9,000 24000 8.00 7.00 5 M.000 63.000 144.000 600 7.00 0 600 7.00 6:00 700 6.00 7.00 0 0 $ o $ 0 $ 0 Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 9,000 15,000 Purchases Unit Cost $ 6 7 Total Cost $36,000 63,000 99,000 Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Units 5,000 3,000 6,000 14,000 Total 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 Sold - January 5 Cost of Goods Sold - January 12 Porpetual FIFO Cost of Goods Available for Sale Cost of # of Unit Goods units Cost Available for Sale 9,000 $ 5.00 $ 45,000 # of units sold Cost per Cost of Goods Sold # of units sold Cost per unit #O unit Cost of Goods Sold $ 5.00 $ 0 $ 5.00 $ 0 Beg. Inventory Purchases January 10 January 18 Total 6.00 6.00 0 0 6,000 9,000 24,000 36,000 63,000 144,000 6.00 7.00 7.00 7.00 0 0 $ 0 $ 0 0 $ O the month using FIFO, perpetual system. d - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Inventory Balance Cost of # of units Goods Sold sold Cost per unit Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold # of units in onding Inventory Cost per unit Ending Inventory $ 0 5.00 0 $ $ $ 5.00 $ 0 0 5.00 $ 0 0 6.00 0 0 0 0 6.00 7.00 6.00 7.00 7.00 ololo OOO 0 OOO 0 0 olo 0 0 0 0 s 0 0 $ $ Required Information [The following information applies to the questions displayed below.) Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 9,000 15,000 Purchases Unit Cost $ 6 7 Total Cost $36,000 63,000 99,000 * Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 5,000 3,000 6,000 14,000 10,000 units were on hand at the end of the month, 4. Calculate January's ending Inventory and cost of goods sold for the month using Average cost, periodic system Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Average Cost of Goods Available for Sale Cost of Unit # of units Goods Cost Available for Sale 9,000 $ 5.00 $ 45,000 # of units sold Cost per Cost of Goods Sold # of units In ending Inventory Average Cost per unit Unit Ending Inventory Beginning Inventory Purchases: January 10 January 18 Total 6,000 $ 6.00 9,000 57.00 24,000 36,000 63,000 144,000 $ $ 0 $ 0 Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 9,000 15,000 Purchases Unit coste $ 6 7 Total cost $36,000 63,000 99,000 * Includes purchase price and cost of freight Sales Date of sale Jan. 5 Jan. 12 Jan. 20 Total Units 5,000 3,000 6,000 14,000 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. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.) Cost of Goods Sold Perpetual Average Inventory on hand Inventory #of units Value Cost per unit of units Avg.Cost sold per unit Cost of Goods Sold 0 0 0 0 0 0 0 0 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 0 0 0 0 0 0 0 $ 0 $ 0 12