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Samuelson and Messenger (S&M) began 2018 with 380 units of its one product. These units were purchased near the end of 2017 foir $24 each.

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Samuelson and Messenger (S&M) began 2018 with 380 units of its one product. These units were purchased near the end of 2017 foir $24 each. During the month of January, 190 units were purchased on January 8 for $27 each and another 380 units were purchased on January 19 for $29 each. Sales of 185 units and 280 units were made on January 10 and January 25, respectively. There were 485 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 Required 1 Required 2 Complete the below table to calculate 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 | Cost of |for units in Goods Sold ending etua Cost of Goods l # of # of | Cost per Available for | units units Cost per unit Cost of Goods Sold Cost per unit Cost per unit Ending Inventory | # of units unit sold Sale sold inventory Beg. Inventory

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