Salt and Mineral (SAM) began 2024 with 400 units of its one product. These units were purchased near the end of 2023 for $25 each. During the month of January, 200 units were purchased on January 8 for $28 each and another 400 units were purchased on January 19 for $30 each. Sales of 150 units and 300 units were made on January 10 and January 25, respectively. There were 550 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 Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO Number of Cost of FIFO Number of units Cost per unit Cost of Goods Available for Sale Number of units sold Cost per unit units in Goods Sold ending Cost per unit Ending Inventory inventory Beginning Inventory 400 $ 25.00 $ 10,000 25.00 $ 0 $ 25.00 $ 0 Purchases: January 8 200 28.00 5,600 28.00 0 28.00 0 January 19 400 30.00 12,000 30.00 30.00 0 Total 1,000 $ 27,600 $ 0 0 $ 0 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 average cost. Note: Round cost per unit to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost per Unit Cost of Goods Sold Number of units in Average Cost per ending inventory Ending Inventory unit 400 $25.00 $ 10,000 Beginning Inventory Purchases: January 8 200 $28.00 January 19 400 $ 30.00 Total 1,000 5,600 12,000 27,600 Drov Novt 0 EA 0