Question: 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.
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 220 units and 180 units were made on January 10 and January 25, respectively. There were 400 units on hand at the end of the month. SAM uses a perpetua/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 Required 2 Complete the below table to calculate ending inventory and cost of goods sold for January using Firo. Cestas Availablew Bala cast of Good day 10 Cost of Good Sold January PARO Couper of units of Cast of Goods Available for sale Cont Cost Cour of Good Cost of Goode bald ce Wat units in ending ventory Wefni som unit unit 320 1 22.00 22013 5 40 22001 410 o 22.00 Wwentory Purchase yo January 19 Total 25.00 160 220 360 25.00 27.00 4.000 140 19,680 0 0 54.40 25.00 2700 0 0 5 O 1 Required 2 >
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