ending inventory and cogs using FIFO

Required information [The following information applies to the questions displayed below] Ferris Company began January with 8.000 units of its principal product. The cost of each unit is \$7. Merchandise transactions for the month of January are as follows: - Includes purchase price and cost of freight. 11,000 units were on hand at the end of the month. 11,000 units were on hand at the end of the month. juired: alculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Required: 1. Calculate January's ending inven