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6 26 oints Samuelson and Messenger (SAM) began 2021 with 200 units of its one product. These units were purchased near the end of 2020
6 26 oints Samuelson and Messenger (SAM) began 2021 with 200 units of its one product. These units were purchased near the end of 2020 for $25 each. During the month of January, 100 units were purchased on January 8 for $28 each and another 200 units were purchased on January 19 for $30 each. Sales of 125 units and 100 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month, SAM uses a perpetual inventory system Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. 2. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost Answer is not complete. Complete this question by entering your answers in the tabs below. Required 11 Required 21 Complete the below table to calculate ending inventory and cost of goods sold for January using average cost. (Round cost per unit to 2 decimal places. Enter Inventory reductions from sales as negative numbers. Inventory on hand Perpetual Average Cost of units per Inventory Value of units sold Cost of Goods Sold Avg. Cost per unit Cost of Goods Sold unit Beginning Inventory 200 25.00 $ 5.000 Purchase January 8 100 28 00 O 2,800 Subtotal Average Cost 300 7,800 Sale January 10 125 O 0 Subtotal Average Cost 425 7,000 Purchase January 19 200 30.00 O 6.000 Subtotal Average Cost 625 13,000 Sale January 25 100 0 Total 725 $13,800 0 0
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