Required Information

Problem $8-5($Algo$)$ Varlous Inventory costing methods $[$LO$8-1,8-4]$

$[$The following information applies to the questions displayed below.$]$

A company began January with $8,000$ units of its principal product. The cost of each unit is $\backslash (\backslash$$ $7\backslash ).$ Inventory 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.

Problem $8-5($Algo$)$ Part $5$

$3.$ Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system.

Note: Round average cost per unit to $4$ declmal places. Enter sales with a negatlve sign.