[The following information applies to the questions displayed below) Ferns Company began January with 8,000 units of its principal product. The cost of each unit is $8 Merchandise transactions for the month of January are as follows: Date of Purchase Jan. 10 Jan. 10 umts 6,000 8,000 14,000 Purchases Unit cost" $ 9 10 Total Cost $ 54,000 30,000 134,000 Totals Includes purchase price and cost of freight Sales Date of sale Jan. 5 Jan. 12 Jan. 20 Total Units 4,000 2,000 5,000 11,000 11.000 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 FIFO Cost of Goods Available for Sale Cost of Goods Sold Periodic FIFO Ending Inventory - Periodic FIFO Cost of of units Cost per # of units Goods # of units Cost per Cost of Cost per Ending unit Available for sold unit Goods Sold in ending unit Inventory Sale inventory 3,000 $ 800 s 64,000 5 800 $ 800 Beginning Inventory Purchases January 10 January 18 Total 5 6,000 5900 8,000 $10.00 22.000 54000 30,000 193 000 9.00 10.00 5 $ 9.00 10.00 w $