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Samuelson and Messenger (SAM) began 2021 with 210 units of its one product. These units were purchased near the end 2020 for $20 each. During
Samuelson and Messenger (SAM) began 2021 with 210 units of its one product. These units were purchased near the end 2020 for $20 each. During the month of January, 105 units were purchased on January 8 for $23 each and another 210 units were purchased on January 19 for $25 each. Sales of 140 units and 110 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. 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 FIFO. Cost of Goods Available for Sale Cost of Goods Sold - January 10 Cost of Goods Sold - January 25 Inventory Balance Perpetual FIFO Cost per Cost of Goods Available for Sale # of units # of units sold Cost per unit Cost of Goods Sold Cost per # of units sold Cost of Goods Sold Cost per unit # of units in ending inventory Ending Inventory unit unit 210 $ 20.00 $ 4,200 $ 20.00 $ 20.00 $ 20.00 Beg. Inventory Purchases: January 8 January 19 Total 105 210 525 23.00 25.00 2,415 5.250 11,865 23.00 25.00 23.00 25.00 23.00 25.00 $
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