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P 8-5 Various inventory costing methods LO8-1, LO8-4 A company began January with 6,000 units of its principal product. The cost of each unit is $8. Inventory transactions for the month of January are as follows: 8,000 units were on hand at the end of the month. Required: Calculate January's ending inventory and cost off,soods sold for the month using each of the following alternatives: 1. FIFO, periodic system 2. LIFO, periodic system 3. FIFO, perpetual system 4. Average cost, periodic system 5. Average cost, perpetual system