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Salt and Mineral (SAM) began 2024 with 200 units of its one product. These units were purchased near the end of 2023 for $25 each.

Salt and Mineral (SAM) began 2024 with 200 units of its one product. These units were purchased near the end of 2023 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 each $30 each. Sales of 125 units and 100 units were made on January 10 amd 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 FIFO and Average cost.
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