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Problem 8-5 Various inventory costing methods [LO8-1, 8-4] Ferris Company began 2018 with 9,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2018 are as follows: Units Purchases Date of Purchase Unit Cost Jan. 10 6,000 $ 9 Jan. 18 9.000 Totals 15,000 *Includes purchase price and cost of freight. 10 Total Cost $ 54,000 90,000 144,000 Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 5,000 3,000 6,000 14,000 10,000 units were on hand at the end of the month. Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system. Complete this question by entering your answers in the tabs below. Required 1 Required 2 | Required 3 Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory | $ $ 0.00 $ $ 0.00 $ Beginning Inventory Purchases: January 10 January 18 Total 0 0 $ 0.00 $ 0. 000 $ 0.00 $ 0. 000 $ 0 Required 1 Required 2 >

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