Samuelson and Messenger (S&M) began 2018 with 250 units of its one product. These units were purchased near the end of 2017 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. S&M uses a perpetual inventory system. Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO method. 2. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost method. www cantate ending inventory and cost of goods sold for January using FIFO method. Cost of Goods Available for Sale Cost of Goods Sold-January 10 Cost of Goods Sold-January 25 Inventory Balance Perpetual FIFO Cost of # of #of units Cost per Goods units unit Available for Sale sold Cost per unit Cost of Goods # of units Cost per Cost of # of units Goods sold unit Sold Sold in ending inventory Cost per unit Endin Invents Beg. Inventory 250 $20.00 $ 5,000 200 $ 20.00 $ 4,000 S 20.00 5 0 0 $ 20.00 $ Purchases: January 8 125 23.00 2,875 23.00 0 23.00 0 23.00 January 19 250 25.00 6,250 0 25.00 0 25.00 25.00 potal 625 S 14,125 200 $ 4,000 0 $ 0 0 S Required 1 Required 2 > Required 1 Required 2 Complete the below table to calculate ending inventory and cost of goods sold your cost per unit to 2 decimal places and other answers to nearest whole num negative numbers.) Inventory on hand Cost of Go Perpetual Average Cost per Inventory # of units unit Value # of units sold Avg. Cost unit Beginning Inventory 250 $ 20.00 $ 5,000 Purchase January 8 125 23.00 2,875 Subtotal Average Cost 375 21.00 7,875 Sale - January 10 (100) 21.00 (2,100) 100 $ EA Subtotal Average Cost 275 21.00 5,775 Purchase - January 19 250 25.00 6,250 Subtotal Average Cost 525 26.60 12,025 Sale - January 25 (150) 0 150 Total 375 $ 12,025 250