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 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 Required: 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system Required: 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. ont of Goods Sold Priciode FIFO Cont of Goods Avaliable for Sale Costol Good Cost per of unit Available for Sale 9,000 $5.00 $ 45 000 Cout por Cost of Goods Sold sold $ 5.00 $ 5.00 Beginning Inventory Purchases January 10 January 18 Total $ 6,000 $ 6.00 9.000 $ 700 24,000 36.000 63.000 144,000 600 700 s $ 6.00 7.00 $ $