Wk 2 - Apply: Summative Assessment [due Day 7] 5 Part 5 of 5 11.11 points Required information Saved [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 $8. Merchandise transactions for the month of January are as follows: Date of Purchase Units Purchases Unit Cost* Jan. 10 6,000 $ 9 Jan. 18 Totals 8,000 10 14,000 Total Cost $ 54,000 80,000 134,000 eBook * Includes purchase price and cost of freight. ol References Sales Date of Sale Units Jan. 5 4,000 Jan. 12 2,000 Jan. 20 5,000 Total 11,000 11,000 units were on hand at the end of the month. Help 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.) Inventory on hand Perpetual Average # of units Cost per unit Beginning Inventory Cost of Goods Sold Inventory Value # of units sold Avg.Cost per unit Cost of Goods Sold