Problem 8-5 Various inventory costing methods [LO8-1, 8-4] Ferris Company began 2018 with 6,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January 2018 are as follows Purchases Date of Purchase Jan. 10 Jan. 18 Units 5,000 6,000 11,000 Unit Cost* $ 10 Total Cost $50,000 66,000 116,000 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 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. Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required 4 Required5 Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO Cost of FIFO # of units | Cost per Goods # of units Cost per Cost of Cost per Ending #of units | in endina