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: Date of Purchase Jan. 10 Jan. 18 Totals Units 5,oee 6,000 11,000 Purchases Unit Cost $9 10 Total Cost $ 45,000 60,000 $105,000 * Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jon. 12 Jan. 20 Total Units 3,000 2,000 9.000 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 Available for Sale Cost of Goods Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Perpetual : Cost of W of Unit Goods units Cost Available for Sale 6,000 $ 8.00 $ 48,000 #of units sold Cost per unit Cost of Goods Sold of units Cost per sold unit 6 of Cost of Goods Sold of units Cost per sold unit Cost of Goods Sold in el Inve 5 8.00 5 8.00 $ 8.00 Beg Inventory Purchases January 10 January 18 Total 5.000 6,000 17 000 900 10.00 0 45.000 60 000 153,000 9.00 10.00 9.00 10.00 9.00 1000 $ 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Average Cost Cost of Goods Available for Sale Cost of # of units Unit Goods Cost Available for Sale 5,000 $ 8.00 S 48,000 Cost of Goods Sold Average Cost Average # of units Cost of sold Unit Goods Sold Ending Inventory - Average Cost # of units Average Ending in ending inventory Inventory unit Cost per Cost per Beginning inventory Purchase January 10 January 18 Total 5,000 $ 9.00 6.000 $10.00 17.000 45.000 60.000 153.000 $ Inventory on hand Cost of Goods Sold Perpetual Average # of units Cost per Inventory Value # of units Avg.Cost sold unit Cost of Goods Sold per unit Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase - January 10 Subtotal Average Cost Sale - January 12 Subtotal Average Cost Purchase - January 18 Subtotal Average Cost Sale - January 20 Total