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 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. FIFO Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Cost per Cost of Goods # of units Cost per # of units Cost of unit Available for Sale sold unit Goods Sold 200 $ 25.00 $ 5,000 $ 25.00 Ending Inventory - Periodic FIFO # of units Cost per Ending in ending unit Inventory inventory $ 25.00 Beginning Inventory Purchases: January 8 January 19 Total 28.00 100 200 28.00 30.00 2,800 6,000 13,800 28.00 30.00 30.00 500 $ Required 1 Required 2 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. (Round cost per unit to 2 decimal places) Average Cost Cost of Goods Available for Sale Cost of Goods # of units Unit Available for Cost Sale 200 $ 25.00 $ 5,000 Cost of Goods Sold - Average Cost Average # of units Cost of sold Unit Goods Sold Ending Inventory - Average Cost # of units in Average Ending ending Cost per Inventory inventory unit Cost per Beginning Inventory Purchases: January 8 January 19 Total 100 $28.00 200 $30.00 500 2,800 6,000 13,800 $