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Line rollowing information appnes to the questions aspiayea Delow! Ferris Company began January with 4,000...

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Line rollowing information appnes to the questions aspiayea Delow! Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7 Merchandise transactions for the month of January are as follows: Purchases Unit Cost SO Date of Purchase Jan. 10 Jan. 18 Totals Units 3,000 4.000 7,000 Total Cost $24,000 36,000 60,000 Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Unita 2,000 1.000 3,000 6,000 5,000 units were on hand at the end of the month 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Ending Inventory - Average Cost Average Cost Cost of Goods Available for Sale Cost of Unit of units Goods Cost Available for Sale 4,000 $ 7.00 $ 28,000 Cost of Goods Sold - Average Cost Average # of units Cost of Cost per sold Goods Sold Unit of units In ending Inventory Average Cost per unit Ending Inventory Beginning Inventory Purchases January 10 January 18 Total 3,000 $ 8.00 4,000 $ 9.00 11.000 24,000 36,000 88.000 $

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