Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system.

A company began January with $9,000$ units of its principal product. The cost of each unit is $$8.$ Inventory transactions for the month of January are as follows:

Date of Purchase Purchases

Units Unit Cost$*$Footnote asterisk Total Cost

January $106,000$ $ $9$ $ $54,000$

January $189,0001090,000$

Totals $15,000$ $ $144,000$

$*$Footnote asterisk Includes purchase price and cost of freight.

Sales

Date of Sale Units

January $55,000$

January $123,000$

January $206,000$

Total $14,000$

$10,000$ units were on hand at the end of the month. Average Cost Cost of Goods Available for Sale Cost of Goods Sold $-$ Average Cost Ending Inventory $-$ Average Cost

Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost per Unit Cost of Goods Sold Number of units in ending inventory Average Cost per unit Ending Inventory

Beginning Inventory $9,000$ $$8\mathrm{.}00$ $$72,000$

Purchases:

January $106,000$ $$9\mathrm{.}0054,000$

January $189,000$ $$10\mathrm{.}0090,00$