Required informetion The following information applies to the questions displayed below; A company began January with 7,000 units of its principal product the cost of each unit is 58 inventory transactions for the month of January are as follows: - Includes purchase price and cost of freight. 10,000 units were on hand at the end of the month Required: 1. Calculate Januarys ending inventory and cost of goods sold for the month using FFO. periodic system. A company began January with l.UUU units of its principat product ine cost of eacn unit is 98 . inventory transactions for the month of January are as follows. - Includes purchase price and cost of freight. 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