Samuelson and Messenger (SAM) began 2021 with 320 units of its one product. These units were purchased near the end of 2020 for $24 each. During the month of January, 160 units were purchased on January 8 for $27 each and another 320 units were purchased on January 19 for $29 each. Sales of 215 units and 210 units were made on January 10 and January 25, respectively. There were 375 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 FIFO Cost of # of units Cost per unit # of units Cost of Goods Available for Sale # of units Cost per Goods Cost per Ending sold unit Sold in ending inventory unit Inventory Beginning Inventory 320 $ 24.00 $ 7,680 24.00 $ 24.00 Purchases: January 8 160 27.00 4,320 January 19 320 29.00 9,280 27.00 29.00 27.00 29.00 Total 800 $ 21,280 Required 1 Required 2 > 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.) Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost # of units Unit Cost Cost of Goods Available for Sale # of units sold Average Cost per Unit # of units Cost of Goods Sold in ending inventory Average Cost per unit Ending Inventory 320 $24.00 $ 7,680 Beginning Inventory Purchases: January 8 January 19 Total 160 $27.00 4,320 320 $29.00 9,280 800 $ 21,280 < Required 1 Required 2 >