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: Units Purchases Unit Cost Date of Purchase Jan. 10 Jan. 18 Totals 6.000 11.00 Total Cost 330,000 42,000 72.0 Includes purchase price and cost of freight Sales Date of Sale Jan Jan 12 Jan 20 Total Units 30 2.000 4,000 9.000 8,000 units were on hand at the end of the month 4. Calculate January's ending Inventory and cost of goods cold for the month using Average cost penodic system 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 Cost of Goods Available for Sale Cost of Unit Goods # of units Cost Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory 6.000 $5.00 $ 30.000 Beginning Inventory Purchases January 10 January 18 Total $ 0.00 5,000 8,000 17.000 $7.00 30,000 42.000 102.000 $ 3 0 5