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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

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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 $5. Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 18 Totals Units 5,000 6,000 11,000 Purchases Unit Cost $ 6 7 Total Cost $30,000 42,000 72,000 * Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 3,000 2,000 4,000 9,000 8,000 units were on hand at the end of the month. BB 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 Average cost Cost of Goods Available for Sale Costo Unit # of units Goods dost Available for Sale 6.000 $ 5.00 $ 30.000 Ending Inventory. Average Cost # of units Average Ending in ending Cost per Inventory inventory unit of Unit Average Cost per Unit cost of Goods Sold Beginning Inventory Purchases January 10 January 18 Total 5,000 $ 6.00 6,000 $ 7.00 17,000 30,000 42,000 102,000 0 $ 0 $ $ ho

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