Required information [The following information applies to the questions displayed below.) Ferris Company began January...
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Required information [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 $5. 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 $ 6 7 Total Cost $30,000 42,000 72,000 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 3. Calculate January's ending inventory and cost of goods sold for the month using FIFO perpetual system Costcods Avatate for Sale Cost of Goods Sold January Cestofdstorya Cast of Good Sold 70 LEO SUR Couto Het Unit Goods Cest Available to Sale 0.0001 3 5903 30 000 of manis old Cost per unat Cost of Goods Sold of units Cost per sola suits Cott Questo of Couto w unt Costa Ceeds See 5 5.00 1 3 5.00 Benventory Purchases January 10 8.00 0 1 8503 600 2.00 0 5.000 0.000 17 000 000 30.000 42.000 102.000 0.00 7.00 004 8.00 700 006 T 3 o 1
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