UT 5 Part 2 of 5 Required information [The following information applies to the questions displayed below.) 4 points Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January are as follows: Skipped Date of Purchase Jan. 10 Jan. 18 Totals Units 5,000 8,000 13,000 Purchases Unit Cost* Total Cost $10 $ 50,000 11 88,000 138,000 eBook Print * Includes purchase price and cost of freight. Reference Sales Date of Sale Units Jan. 5 3,000 Jan. 12 3,000 Jan. 20 4,000 Total 10,000 11,000 units were on hand at the end of the month. 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. Periodic LIFO LIFO LIFO # of units # of units for Sale Cost of Cost Goods per Available unit for Sale $ 9.00 $ 72,000 Cost per unit Cost of # of units Cost Goods in ending Ending Sold inventory per unit Inventory Sold 8,000 $ 9.00 $ 0 $ 9.00 $ 0 Beginning Inventory Purchases: January 10 5,000 50,000 $10.00 0 $10.00 0 $ 10.00 $ 11.00 January 18 8,000 88,000 $ 11.00 0 $ 11.00 0 Total 21,000 0 $ 0 0 $ 0 210,000