Samuelson and Messenger (SAM) began 2021 with 320 units of its one product. These units were purchased near the end of 2020 for $24 each. During the month of January, 160 units were purchased on January 8 for $27 each and another 320 units were purchased on January 19 for $29 each. Sales of 215 units and 210 units were made on January 10 and January 25, respectively. There were 375 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 Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO FIFO # of units Cost per unit Cost of Goods Available for Sale # of units Cost of sold Cost per unit # of units Cost per Goods Sold in ending Ending unit Inventory inventory Beginning Inventory 320 $ 24.00 $ 7,680 320 24.00 $ 7.680 $ 24.00 $ 0 Purchases: January 8 160 27.00 January 19 320 29.00 Total 800 $ 4,320 27.00 0 27.00 0 9,280 0 29.00 0 320 29.00 9,280 21,280 320 $ 7,680 320 $ 9,280 < Required 1 Required 2 >