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Required information [The following information applies to the questions displayed below.) Ferris Company began January with

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cost of goods available for sale Cost of good sold ending invnetory
Periodic FIFO #of cost per Cost of goods #of cost per Cost of goods #of cost per ending
units unit available units unit sold units unit inventory
Beginning inventory 7000 6 42,000 7000 6 42000
purchases:
10-Jan 6000 7 42,000 1000 7 7000 5000 7 35000
18-Jan 7000 8 56,000 7000 8 56000
total 20000 140,000 8000 49000 12000 91000
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