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please be clear Samuelson and Messenger (SAM) began 2021 with 250 units of its one product. These units were purchased near the end of 2020

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Samuelson and Messenger (SAM) began 2021 with 250 units of its one product. These units were purchased near the end of 2020 for $20 each. During the month of January, 125 units were purchased on January 8 for $23 each and another 250 units were purchased on January 19 for $25 each. Sales of 200 units and 150 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 Required: 1. Calculate ending inventory and cost of goods sold for January using FIFO. 2. Calculate ending inventory and cost of goods sold for January using average cost. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using FIFO. Cost of Goods Available for Sale FIFO #of units Cost per Cost of Goods unit Available for Sale 250 $ 20.00 $ Cost of Goods Sold - Periodic FIFO # of units Cost of Cost per Goods sold unit Sold 20.00 $ 0 Ending Inventory. Periodic FIFO # of units Cost per in ending Ending Inventory Inventory $ 20.00 s 0 5.000 Beginning inventory Purchases January 8 January 19 Total 23.00 25.00 23.00 25.00 D 0 2,875 6,250 14,125 23.00 25.00 125 250 825 OOO $ 0 0 $ $ Required 2 > Samuelson and Messenger (SAM) began 2021 with 250 units of its one product. These units were purchased near the end of 2020 for $20 each. During the month of January, 125 units were purchased on January 8 for $23 each and another 250 units were purchased on January 19 for $25 each. Sales of 200 units and 150 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. Required: 1. Calculate ending Inventory and cost of goods sold for January using FIFO. 2. Calculate ending inventory and cost of goods sold for January using average cost. Complete this question by entering your answers in the tabs below. Required: Required 2 Calculate ending inventory and cost of goods sold for January using average cost. (Round cost per unit to 2 decimal places.) Cost of Goods Avaliable for Sale Cost of Goods Sold - Average Cost Ending Inventory. Average Cost Ayetage Cost Unit Cost of Goods Average # of units # of unita Cost of Average #of units Cost per Ending Cost sold Available for Sale Goods Sold In ending Cost per Unit Inventory unit Inventory Beginning Inventory 250 $ 20.00 $ 5,000 Purchases January 8 125 S 23.00 2,875 January 19 250 $25.00 6.250 Total 625 $ 14,125 0 $ 0

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