CARD SAN 2019 51857.58 BE 8-6 Inventory cost flow methods, periodic system Samuelson and Messenger (SAMI began 2021 with 200 units of its one product. These units were purchased near the end of 2017 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 periodic inventory system. Calculate ending inventory and cost of goods sold for January using (1) FIFO, and (2) average cost. BE 8-8 LIFO method Esquire Inc. uses the LIFO method to value its inventory. Inventory at January 1, 2021, was $500,000 (20,000 units at $25 each). During 2021, 80,000 units were purchased, all at the same price of $30 per unit. 85,000 units were sold during 2021. Esquire uses a periodic inventory system. Calculate the December 31, 2021, ending inventory and cost of goods sold for 2021