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 Cont $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. Date of Purchase Jan. 10 Jan. 18 Totals Units 6.000 9,000 15,000 EUWS Unit Cost $ 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. 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. LIFO Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale 9,000 $ 5.00 $ 45,000 Cost of Goods Sold - Periodic LIFO # of units Cost per cost of sold unit Goods Sold Ending Inventory. Periodic LIFO # of units Cost per Ending In ending unit Inventory Inventory $ 5.00 $ 0 $ 5.00 $ 0 Beginning Inventory Purchases: January 10 January 18 Total 0 6.00 0 6,000 $ 6.00 9,000 $ 7.00 24,000 36,000 63,000 144,000 $ $ 6.00 7.00 $ $ 0 7.00 0 $ 0 $ 0 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. 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.) mtoto hut not entirely correct. Jan. 20 Total 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.) Perpetual Average per unit Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase. January 10 Subtotal Average Cost Sale - January 12 Subtotal Averago Cost Purchase - January 18 Subtotal Average Cost Sale - January 20 Total Answer is complete but not entirely correct. Inventory on hand Cost of Goods Sold #of Cost Inventory # of Cost of Avg.Cost per units units Value Goods unit sold Sold 9,000 5.0000 $ 45,000 5,000 5.0000 25,000 14,000 5.0000 70,000 6,000 6.0000 36,000 20,000 5.6000 106,000 3,000 5.6000 16.800 23,000 5.6000 122,800 9,000 7.0000 63,000 32,000 6.3875 185,800 6,000 6 3875 38,325 38,000 $ 224,125 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 Cont $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. Date of Purchase Jan. 10 Jan. 18 Totals Units 6.000 9,000 15,000 EUWS Unit Cost $ 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. 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. LIFO Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale 9,000 $ 5.00 $ 45,000 Cost of Goods Sold - Periodic LIFO # of units Cost per cost of sold unit Goods Sold Ending Inventory. Periodic LIFO # of units Cost per Ending In ending unit Inventory Inventory $ 5.00 $ 0 $ 5.00 $ 0 Beginning Inventory Purchases: January 10 January 18 Total 0 6.00 0 6,000 $ 6.00 9,000 $ 7.00 24,000 36,000 63,000 144,000 $ $ 6.00 7.00 $ $ 0 7.00 0 $ 0 $ 0 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. 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.) mtoto hut not entirely correct. Jan. 20 Total 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.) Perpetual Average per unit Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase. January 10 Subtotal Average Cost Sale - January 12 Subtotal Averago Cost Purchase - January 18 Subtotal Average Cost Sale - January 20 Total Answer is complete but not entirely correct. Inventory on hand Cost of Goods Sold #of Cost Inventory # of Cost of Avg.Cost per units units Value Goods unit sold Sold 9,000 5.0000 $ 45,000 5,000 5.0000 25,000 14,000 5.0000 70,000 6,000 6.0000 36,000 20,000 5.6000 106,000 3,000 5.6000 16.800 23,000 5.6000 122,800 9,000 7.0000 63,000 32,000 6.3875 185,800 6,000 6 3875 38,325 38,000 $ 224,125 0 0