Ferris Company began 2018 with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2018 are as follows:

8,000 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

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Purchases Date of Purchase Units 5,000 6,000 11,000 Unit Cost Total Cost $45,000 60,000 $105,000 Jan. 10 Jan. 18 10 Totals Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Units 3,000 2,000 4,000 9,000 Total