Ferris Company began 2018 with 5,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January 2018 are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 10 $ 60,000 Jan. 18 5,000 11 55,000 Totals 11,000 115,000 *Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,000 Jan. 12 3,000 Jan. 20 4,000 Total 10,000 6,000 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. FIFO Cost of Goods Cost of Goods Sold Ending Inventory Available for Sale - Periodic FIFO - Periodic FIFO # of Cost Cost of Goods # of Cost Cost of # of units Cost Ending units per Available units per Goods in ending per Inventory unit for Sale sold unit Sold inventory unit Beginning Inventory 5,000 $9.00 $45,000 5,000 $9.00 $45,000 $9.00January 10 6,000 $10.00 60,000 $10.00 0 $10.00 0January 18 5,000 $11.00 55,000 $11.00 0 $11.00 0Total 16,000 $160,000 5,000 $45,000 0 $0