Problem 8-5 (Algo) Various inventory costing methods (LO8-1, 8-4) [The following information applies to the questions displayed below) Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Date of Purchase Jan 10 Jan. 18 Totals Units 3,000 4.000 7.000 Purchases Unit Cost Total Cost SB $24,000 9 36,000 60.000 * Includes purchase price and cost of freight Date of SA Jan. 5 Jan 12 Jan. 20 Total Units 2,000 1,000 3.000 6,000 5,000 units were on hand at the end of the month Problem 8-5 (Algo) Part 4 4. Calculate January's ending inventory and cost of goods sold for the month using Average cost periodic system Couto de Available Sale COM Cesta Goods Sold Age Co Arcos Ending Inventory Average cost Average Corpet Ending Costol sold