Samuelson and Messenger (SAM) began 2021 with 250 units of its one product. These units were purchased near the end of 2020 for $20 each. During the month of January, 125 units were purchased on January 8 for $23 each and another 250 units were purchased on January 19 for $25 each. Sales of 200 units and 150 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.

Perpetual FIFO	Cost of Goods Available for Sale			Cost of Goods Sold - January 10			Cost of Goods Sold - January 25			Inventory Balance
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beg. Inventory			$0		$0.00	$0		$0.00	$0		$0.00	$0
Purchases:
January 8			0		0.00	0		0.00	0		0.00	0
January 19			0		0.00	0		0.00	0		0.00	0
Total	0		$0	0		$0	0		$0	0		$0

Perpetual Average	Inventory on hand			Cost of Goods Sold
	# of units	Cost per unit	Inventory Value	# of units sold	Avg. Cost per unit	Cost of Goods Sold
Beginning Inventory			$0
Purchase - January 8			0
Subtotal Average Cost	0		0
Sale - January 10			0
Subtotal Average Cost	0		0
Purchase - January 19			0
Subtotal Average Cost	0		0
Sale - January 25			0
Total	0		$0	0		$0