Required information Problem 8-5 (Algo) Various inventory costing methods [LO8-1, 8-4] [The following information applies to the questions displayed below.] A company began January with 6,000 units of its principal product. The cost of each unit is $9. Inventory transactions for the month of January are as follows: Date of Purchase Unita Purchases Unit Cost Total Cost January 10 5,000 $ 10 January 18 6,000 11 $ 50,000 66,000 Totals 11,000 $ 116,000 *Includes purchase price and cost of freight. Sales Date of Sale Units January 5 3,000 January 12 2,000 January 20 4,000 Total 9,000 8,000 units were on hand at the end of the month.