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 $8. Merchandise transactions for the month of January are as follows: Purchases Unit Cost* $ 9 Date of Purchase Jan. 10 Jan. 18 Totals Units 5,000 6,000 11,000 10 Total Cost $ 45,000 60,000 $105,000 * 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. Activate Windows Go to Settings to activate - - 12 Check my work 8,000 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 12 Cost of Goods Sold - Jan Perpetual FIFO: Cost of Goods Available for Sale Cost of Goods Sold - January 5 Cost of # of Unit Goods # of Cost of Cost per units Cost units Available for sold unit Goods Sold Sale $ 0f $ 0.00 $ 0 # of units Cost per sold unit Cost of Goods Sold # of units Cost perc sold unit God $ 0.00 $ $ 0.00 $ Beg. Inventory Purchases: January 10 January 18 Total 0 0.00 0.00 0.00 0.00 0.00 0.00 0 $ 00 Activate Windows Go to Settings to activate month. of goods sold for the month using FIFO, perpetual system. Cost of Goods Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Inventory Balance # of units Cost per unit Cost of Goods Sold # of units sold Cost per unit Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory sold $ $ 0.00 0.00 $ $ 0 0 $ $ 8.00 $ 0.00 0 $ 0 0.00 0.00 0.00 0.00 0.00 0 0. 00 0 0.00 0 0. 00 0 0$ 00S 00 $ 0 Activate Windows Go to Settings to activate Windows 12 F10 F7