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Samuelson and Messenger (SAM) began 2021 with 200 units of its one product

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Samuelson and Messenger (SAM) began 2021 with 200 units of its one product. These units were purchased near the end of 2020 for $25 each. During the month of January, 100 units were purchased on January 8 for $28 each and another 200 units were purchased on January 19 for $30 each. Sales of 125 units and 100 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month SAM uses a periodic inventory system Required: 1. Calculate ending inventory and cost of goods sold for January using FIFO. 2. Calculate ending inventory and cost of goods sold for January using average cost OK onoes Complete this question by entering your answers in the tabs below. Required: Required 2 Calculate ending inventory and cost of goods sold for January using FIFO. Cost of Goods Sold Periode FIFO FIEO Cost per Cost of Goods Available for Sale of units Cost per Cost of Goods unit Available for Sale 200 525005 5.000 of units sold Cost of Goods Sold Ending Inventory Periodic FIFO of units Cost per Ending in ending init Inventory Inventory 25.00 unt 5 2500 Beginning inventory
Required 1 Required 2 Calculate ending Inventory and cost of goods sold for January using FIFO. Cost per Cost of Goods Available for Sale Cost of Goods Sold Periodic FIFO #of units Cost per Cost of Goods # of units Cost per Cost of unit Available for Sale sold unit Goods Sold 200 $25.00 $ 5.000 5 2500 Ending Inventory - Periodic FIFO # of units Ending In ending unit Inventory Inventory $ 25 00 FIFO 28.00 100 Beginning Inventory Purchases January 8 January 19 Total 2800 3000 28.00 30.00 2.800 6.000 13.800 30.00 200 500 $ Required 2 >
Complete this question by entering your answers in the tabs below. Required 1 Required) Calculate ending inventory and cost of goods sold for January using average cost. (Round cost per unit to 2 decimal places) Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost # of units in Cost of Goods Average Cost Unit Average Average # of units Cost of Ending # of units Available for ending Cost per Cost per sold Cost Goods Sold Inventory Unit Sale unit inventory Beginning Inventory 200 $2500 5 5.000 Purchases Sanuary 100 $28.00 2 800 January 19 200 53000 6.000 Total 500 $ 13.800