Chapter 8 Homework i Help Save & Exit Submit Check my work 4 Samuelson and Messenger (S&M) began 2018 with 360 units of its one product. These units were purchased near the end of 2017 for $25 each. During the month of January, 180 units were purchased on January 8 for $28 each and another 360 units were purchased on January 19 for $30 each. Sales of 140 units and 260 units were made on January 10 and January 25, respectively. There were 500 units on hand at the end of the month. S&M uses a periodic inventory system 0.25 points 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. Print Complete this question by entering your answers in the tabs below Required 1Required 2 Calculate ending inventory and cost of goods sold for January using average cost. (Round average 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) Average cost Unit Available for sold Cost Cost of Goods | # of units : Average Cost per Cost of Goods Sold # of units in ending i Average Cost per unit Ending Inventory Sale Unit Beginning Inventory Purchases: January 8 January 19 Total Required 1 Required 2 Graw Hill