Samuelson and Messenger (SAM) began 2021 with 360 units of its one product. These units were purchased near the end of 2020 for $20 each. During the month of January, 180 units were purchased on January 8 for $23 each and another 360 units were purchased on January 19 for $25 each. Sales of 170 units and 270 units were made on January 10 and January 25, respectively. There were 460 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. equired 1 Required 2 omplete 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 Bala fpetual FIFO # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold Cost per # of units sold Cost of Goods Sold # of units in ending inventory Cost pei unit unit g. Inventory 360 $ 20.00 $ 7,200 170 $ 20.00 $ 3,400 $ 20.00 0 20. 'chases: 180 23.00 4,140 23.00 0 23.00 0 23. January 8 January 19 360 25.00 9,000 25.00 0 25.00 25. O al 900 20,340 170 $ 3,400 0 0 0 Required 1 Required 2 > 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 Perpetual Average Cost per # of units Inventory Value # of units sold Avg. Cost per unit Cost of Goods Sold unit 0 0 0 0 0 Beginning Inventory Purchase - January 8 Subtotal Average Cost Sale - January 10 Subtotal Average Cost Purchase - January 19 Subtotal Average Cost Sale - January 25 0 0 0 0 0 0 Total 0 $ 0 0 0 Required 1 Required 2 >