Brief Exercise 8-7 Inventory cost flow methods; perpetual system LO8-4] Samuelson and Messenger (S&M) began 2018 with 220 units of its one product. These units were purchased near the end of 2017 for $22 each. During the month of January, 110 units were purchased on January 8 for $25 each and another 220 units were purchased on January 19 for $27 each. Sales of 130 units and 120 units were made on January 10 and January 25, respectively. There were 300 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 Sold - January 10 Cost of Goods Sold - January 25 Cost of Cost of Goods Available for Sale Inventory Balance Cost of Cost of Goods | # of units | Cost per | in ending # of | Cost per # of Cost per Goods units unit Available for # of units sold Cost per unit Ending Inventory | Goods Sold unit unit S0 Sold inventory Sale 0.00S 0.00S 0.00 S Beg. Inventory Purchases January 8 January 19 0.00 0.00 0.00 0.00 0.00 0.00 Total