Samuelson and messenger began 2018 with 200 units and one of its product. These units were purchased near the end of 2017 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. Use his periodic inventory system.

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.

Samuelson and Messenger (S&M) began 2018 with 200 units of its one product. These units were purchased near the end of 2017 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. S&M uses a periodic inventory system. 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January usin9 FIFO f Goods Available t of Goods Ending Inventory Periodic FIFCo FIFO FIFo Cost of Goods Cost per unit Cost of | # of units in ending inventory per nit Inventory #of #of units Cost Cost Ending Available units sold per unitGoods Sold Beginning Inventory 200 25.00 5,000 200 25.00 5.000 25.00 January 8 January 19 0028.00 200 30.00 2,800 6,000 13,800 0 28.00 30.00 7528.00 200 30.00 275 2,100 6,000 8,100 Total 200 5,000 Required 2>