Samuelson and Messenger (S&M) began 2018 with 340 units of its one product. These units were purchased near the end of 2017 for $24 each. During the month of January, 170 units were purchased on January 8 for $27 each and another 300 units were purchased on January 19 for $29 each. Sales of 160 units and 220 units were made on January 10 and January 25, respectively. There were 430 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 the below table to calculate ending inventory and cost of goods sold for January using FIFO method. Inventory Balance Perpetual FIFO Cost of Goods Available for Cost of Goods Sold - January 10 Cost of Goods Sold - January 25 Sale Cost of # of Cost of # of Cost per Goods Cost of Cost per # of units Goods units Cost per Goods units unit Available for unit Sold unit Sold Sale 340 $ 24.00 $ 8,160 160 $ 24.00 $ 3,840 190 $ 24.00 $ 4,560 Cost per unit Ending Inventory sold # of units in ending inventory 0 sold $ 24.00 $ Beg. Inventory Purchases: January 8 January 19 Total 0 30 810 170 300 810 27.00 29.00 4,5900 8,700 0 21,450 160 27. 00 29.00 27.00 29.00 27.00 29.00 $ $ 3,840 220 $ 5,370 0 $ Complete the below table to calculate ending inventory and cost of goods sold for January using average cost method. (Round your cost per unit to 2 decimal places and other answers to nearest whole number. Enter inventory reductions from sales as negative numbers.) Perpetual Average Inventory on hand Inventory unit Value Cost of Goods Sold # of units Avg. Cost per Cost of I sold unit Goods Sold Cost per # of units 01 Beginning Inventory Purchase - January 8 Subtotal Average Cost Sale - January 10 Subtotal Average Cost Purchase - January 19 Subtotal Average Cost Sale - January 25 Total 0 0 0/ 01