Samuelson and Messenger $($SAM$)$ began $2021$ with $250$ units of its one product. These units were purchased near the end of $2020$ for Required $1$

Required $2$

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.$)$

$\backslash$table$[[$Perpetual Average,Inventory on hand,Cost of Goods Sold$],[$# of units,Cost per unit,,,# of units sold,Avg. Cost per unit,,$],[$Beginning Inventory,,,$$,0,,,,],[$Purchase $-$ January $8,,,,0,,,,],[$Subtotal Average Cost,$0,,,0,,,,],[$Sale $-$ January $10,,,,0,,,,],[$Subtotal Average Cost,$0,,,0,,,,],[$Purchase $-$ January $19,,,,0,,,,],[$Subtotal Average Cost,$0,,,0,,,,],[$Sale $-$ January $25,,,,0,,,,],[$Total$,0,,$$$,0,0,,$$$,0]]$

$$25$ each. During the month of January, $125$ units were purchased on January $8$ for $$28$ each and another $225$ units were purchased

on January $19$ for $$30$ each. Sales of $180$ units and $150$ units were made on January $10$ and January $25,$ respectively. There were $270$

units on hand at the end of the month. SAM uses a perpetual inventory system.

Required:

Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO.

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.

Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO.