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[The following information applies to the questions displayed below.] A company began January with 6,000 units of its principal product. The cost of each unit is $9. Inventory transactions for the month of January are as follows: Date of Purchase January 10 January 18 Totals Total Date of Sale January 5 January 12 January 20 Total Includes purchase price and cost of freight. Unita EIFO Beginning Inventory Purchases: 5,000 6,000 11,000 January 10 January 18 8,000 units were on hand at the end of the month. 3,000 2,000 4,000 9,000 Required: 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Purchages Unit Cost* S 10 Cost of Goods Available for Sale Cost of Goods Available for Sale 6,000 $9.00 $ 54,000 Number Cost per of units unit 5,000 $10.00 6,000 $11.00 17,000 $ Total Cost $ 50,000 66,000 $ 116,000 50,000 66,000 170,000 Cost of Goods Sold - Periodic FIFO Number of units sold Cost of Goods Sold 0 Cost per unit $ $ $ 9.00 10.00 11.00 $ $ 0 0 0 0 Ending Inventory - Periodic FIFO Number of units in ending Inventory 0 Cost per unit $ 9.00 $ 10.00 $ 11.00 Ending Inventory S $ 0 OOO

[The following information applies to the questions displayed below] A company began January with 6.000 units of its principal product. The cost of each unit is $9. Inventory transactions for the month of January are as follows: - Includes purchase price and cost of freight. 8,000 units were on hand ot the end of the month. Required: 1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system

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