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Required Information [The following Information applies to the questions displayed below.] Ferris Company began January with 9,000 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. le Jan. 18 Totals Units 6, eee 9,800 15, eee Purchases Unit Cost $ 9 10 Total Cost $ 54,00 9e, eee 144,90 *****, * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 5, eee 3, see 6,000 14, mee 10,000 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. Cost of Goods Available for Sale Cost of Goods Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Inventory Balance Perpetual FIFO # of # units Unit Cost Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units sold Cost per unit Cost of Goods Sold of units Cost per sold unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 9,000 $ 8.00 S $ 72,000 5,000 $ $ 8.00 $ 40.000 $ 8.00 $ 0 $ 8.00 $ 0 s 8.00 $ 0 Beg. Inventory Purchases: January 10 9.00 54,000 0 9.00 ol 9.00 0 6,000 9,000 24,000 9.00 10.00 0 0 0 0 9.00 10.00 January 18 10.00 0 10.00 10.00 0 90,000 216,000 0 ol 0 01 Total S 5.000 S 40.000 0 S 0 0 S 0 01 $ s 0 Required Information [The following information applies to the questions displayed below.) Ferris Company began January with 9,000 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. 19 Jan. 18 Units 6,800 9, eee 15, eee Purchases Unit Cost $ 9 10 Total Cost $ 54,800 90,000 144, eee Totals * Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 5, eee 3, see 6,000 14,000 10,000 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 # of units Inventory unit Value Cost of Goods Sold # of units Avg.Cost Cost of sold Goods Sold per unit $ 0 Beginning Inventory Sale - January 5 0 0 0 0 0 0 0 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 OOO 0 $ 0

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