Required information 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 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 the end of the month. Problem 8-5 (Algo) Part 5 5. Calculate January's ending inventory and cost of goods soid for the month using Average cost, perpetual system. (Round overoge cost per unit to 4 decimal places. Enter soles with o negotive sign.)