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 perpetua/inventory system Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. 2. Complete the below table to 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 Complete the below table to calculate ending Inventory and cost of goods sold for January using average cost. (Round cost per unit to 2 decimal places. Enter Inventory reductions from sales as negative numbers.) Inventory on hand Cost of Goods Sold Avg. Cost per Cost of Goods unit Sold Perpetual Averago # of units Cost per unit Inventory Value # of units sold 200 100 300 25.00 $ 28.00 5,000 2,800 7.800 0 Beginning Inventory Purchase - January 8 Subtotal Average Cost Sale - January 10 Subtotal Average Cost Purchase - January 19 Subtotal Averago Cost Sale - January 25 Total 300 200 30.00 7,800 6,000 13,800 500 0 $ 0 0 500 $ 13,800 GIRLS were purchasca 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 perpetual inventory system Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. 2. Complete the below table to 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 Complete the below table to calculate ending inventory and cost of goods sold for unry using Furo. Cost of Goods Available for Sale Cost of Goods Sold - January to Perpetual.EE of Cost per Cost of Goods #of units sold Cost per Cost of Goods Sold Cast of Goods Sold - January 25 Cost per unit Cost of Goods Sold units of units inveni of units sold Available for Sale unit 200 25.00 5.000 2005 25.00 $ 5.000 200 $ 25.00 5 5.000 25 Bog Inventory Purchases January 8 January 19 Total 100 200 500 28,00 30.00 2.800 6.000 13.800 100 200 500 28.00 30.00 2.800 6.000 13.500 28.00 30:00 0 225 700 0 5.700 $ 5 $ Re Required 2 > pereturr why yor entory and cost of goods sold for January using FIFO. ventory and cost of goods sold for January using average cost ters in the tabs below. Dry and cost of goods sold for January using FIFO. Cast of Goods Sold-January 10 Sale Cost of Goods Sold - January 25 Inventory Balance Goods for Sale Cost per Cost per unit Cost of Goods Sold F of units cold #of units sold Cast of Goods Sold of units in ending Inventory Cooper unit Ending Inventory unit 0 25.00 $ 5,000 5,000 5.000 2005 200 $ ol 5 25.00 $ 25.00 5 100 25 28.00 30.00 28.00 3000 2,800 5,000 13,800 28.00 30.00 2,800 0 000 13.800 700 0 5.700 0 75 200 275 2.100 6,000 3.100 200 500 225 $ s $ Re Required 2 >
