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 Average Cost of Goods Available for Sale Cost of Unit Goods # of units Cost Available for Sale 9,000 $ 5.00 $ 45 000 # of units sold Cost per Cost of Goods Sold # of units in ending inventory Cost per Ending Inventory Unit unit Beginning Inventory Purchases January 10 January 18 Total 6,000 $ 6.00 9,000 $ 7.00 24,000 36.000 63.000 $ 144,000 $