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Ferris Company begon 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 5,000 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 Jan. 12 Jan. 20 Total Unita 3,000 2,000 4,000 9,000 8,000 units were on hand at the end of the month. 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.) Perpetual Average Inventory on hand Cost per Inventory # of units unit Value Cost of Goods Sold # of units Avg.Cost Cost of sold per unit Goods Sold 0 Beginning Inventory Sale January 5 Subtotal Average Cost Purchase - January 10 0 0 0 0 Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 3,000 2.000 4,000 9,000 8,000 units were on hand at the end of the month. 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.) Perpetual Averago Inventory on hand Cost per of units Inventory unit Value Cost of Goods Sold # of units Avg.Cost Cost of sold per unit Goods Sold $ 0 0 0 0 0 0 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 0 0 0 >o 0 0 0 0 0 0 0 $ 0

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