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Samuelson and Messenger (S&M) began 2018 with 250 units of its one product. These units'were purchased near the end of 2017 for $24 each. During

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Samuelson and Messenger (S&M) began 2018 with 250 units of its one product. These units'were purchased near the end of 2017 for $24 each. During the month of January. 125 units were purchased on January 8 for $27 each and another 250 units were purchased on January 19 for $29 each. Sales of 170 units and 130 units were made on January 10 and January 25, respectively. There were 325 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. Complete this question by entering your answers in the tabs below Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO method. or Cost of Goods Sold-January 10 Cost of Goods Sold - January 25 Cost of costof | # of | Cost per GoodV- sold | # of units | cost per Cost ! # of units cost per | Goods | in ending Sold inventory Ending units unit Available for units unit unit sold Sold $24.00 6,000 S 24.00$ $ 24.00S S 24.00 $ 0.00 0.00 0.00 0.00 January 8 January 19 0.00 0.00 $ 6,000 Required 2> K Prex 6 of 12Nex

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