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bbyniah123
bbyniah123
17.12.2019 • 
Business

Ferris company began 2018 with 6,000 units of its principal product. the cost of each unit is $8. merchandise transactions for the month of january 2018 are as follows: purchasesdate of purchase units unit cost* total costjan. 10 5,000 $ 9 $ 45,000jan. 18 6,000 10 60,000totals 11,000 105,000* includes purchase price and cost of freight.salesdate of sale unitsjan. 5 3,000jan. 12 2,000jan. 20 4,000total 9,0008,000 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.

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