Samuelson and Messenger (SAM) began 2021 with 320 units of its one product. These units were purchased near the end of 2020 for $22 each. During the month of January, 160 units were purchased on January 8 for $25 each and another 320 units were purchased on January 19 for $27 each. Sales of 160 units and 280 units were made on January 10 and January 25, respectively. There were 360 units on hand at the end of the month. SAM uses a periodic inventory system. 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. 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 using FIFO. Cost of Goods Available for Sale FIFO Cost per Cost of Goods Available for Sale # of units Cost of Goods Sold - Periodic FIFO # of units Cost of sold unit Goods Sold 22.00 Cost per Ending Inventory - Periodic FIFO # of units Cost per Ending in ending unit Inventory inventory $ 22.00 unit 320 $ 22.00 $ 7,040 Beginning Inventory Purchases: January 8 January 19 Total 160 320 800 25.00 27.00 4,000 8,640 19,680 25.00 27.00 25.00 27.00 $ Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using average cost. (Round cost per unit to 2 decimal places.) Cost of Goods Available for Sale Average Cost Unit Cost # of units Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average # of units Average # of units Cost of Ending Cost per in ending Cost per sold Goods Sold Inventory Unit inventory unit Cost of Goods Available for Sale 320 $ 22.00 $ 7,040 Beginning Inventory Purchases: January 8 January 19 Total 160 $ 25.00 320 $ 27.00 800 4,000 8,640 19,680 $