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Question & Answer: Ferris Company began 2016 with 5,000 units of its principal product. The cost of each unit is $9 Merchandise transactions for th…..

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Ferris Company began 2016 with 5,000 units of its principal product. The cost of each unit is $9 Merchandise transactions for the month of January 2016 are as follows Purchases Date of Purchase Jan. 10 Jan. 18 Units Unit Cost* Total Cost 6,000 $10 5,000 $60,000 55,000 Totals 11,000 $115,000 ncludes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Units 3.000 3,000 4,000 Total 10,000 6,000 units were on hand at the end of the month.

Ferris Company began 2016 with 5,000 units of its principal product. The cost of each unit is $9 Merchandise transactions for the month of January 2016 are as follows Purchases Date of Purchase Jan. 10 Jan. 18 Units Unit Cost* Total Cost 6,000 $10 5,000 $60,000 55,000 Totals 11,000 $115,000 ncludes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Units 3.000 3,000 4,000 Total 10,000 6,000 units were on hand at the end of the month.

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