Question: please answer both requirements and show work. thank you Samuelson and Messenger (SAM) began 2021 with 300 units of its one product. These units were


please answer both requirements and show work. thank you
Samuelson and Messenger (SAM) began 2021 with 300 units of its one product. These units were purchased near the end of 2020 for $25 each. During the month of January, 150 units were purchased on January 8 for $28 each and another 300 units were purchased on January 19 for $30 each. Sales of 155 units and 190 units were made on January 10 and January 25, respectively. There were 405 units on hand at the end of the month. SAM uses a perpetual inventory system. Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. 2. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost. 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. Cost of Goods Available for Sale Cost of Goods Sold - January 10 Cost of Goods Sold - January 25 Inventory Balanc Perpetual FIFO Cost per # of units Cost per Cost per Cost of Goods Available for Sale # of units Cost of Goods Sold # of units sold Cost of Goods Sold # of units in ending inventory Cost per unit unit sold unit unit 300 $ 155 25.00 7,500 $ S 25.00 $ 3,875 145 0 $ 25.00 $ S 25.00 Beg. Inventory 3,625 Purchases: 28.00 0 0 4,200 28.00 28.00 0 150 28.00 0 0 30.00 30.00 30.00 0 January 8 January 19 Total 30.00 9,000 300 750 0 155 145 S $ 3,875 0 3,625 $ 20,700 Samuelson and Messenger (SAM) began 2021 with 300 units of its one product. These units were purchased near the end of 2020 for $25 each. During the month of January, 150 units were purchased on January 8 for $28 each and another 300 units were purchased on January 19 for $30 each. Sales of 155 units and 190 units were made on January 10 and January 25, respectively. There were 405 units on hand at the end of the month. SAM uses a perpetual inventory system. Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. 2. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost. bok Complete this question by entering your answers in the tabs below. int Required 1 Required 2 ences Complete the below table to calculate ending inventory and cost of goods sold for January using average cost (Round cost per unit to 2 decimal places. Enter inventory reductions from sales as negative numbers.) Inventory on hand Cost of Goods Sold Perpetual Average Cost per # of units Inventory Value # of units sold Avg. Cost per unit Cost of Goods Sold unit 300 $ 25.00 $ 7,500 4,200 150 28.00 450 11,700 0 Beginning Inventory Purchase - January 8 Subtotal Average Cost Sale - January 10 Subtotal Average Cost Purchase - January 19 Subtotal Average Cost Sale - January 25 Total 450 11,700 0 300 750 11,700 0 $ 0 0 11,700 $ 750
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