Samuelson and Messenger (SAM) began 2021 with 340 units of its one product. These units were purchased near the end of 2020 for $22 each. During the month of January, 170 units were purchased on January 8 for $25 each and another 340 units were purchased on January 19 for $27 each. Sales of 185 units and 210 units were made on January 10 and January 25, respectively. There were 455 units on hand at the end of the month. SAM uses a perpetual inventory system.

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

Perpetual Average	Inventory on hand			Cost of Goods Sold
	# of units	Cost per unit	Inventory Value	# of units sold	Avg. Cost per unit	Cost of Goods Sold
Beginning Inventory	340	$22.00	$7,480
Purchase - January 8	170	25.00	4,250
Subtotal Average Cost	510		11,730
Sale - January 10			0
Subtotal Average Cost	510		11,730
Purchase - January 19			0
Subtotal Average Cost	510		11,730
Sale - January 25			0
Total	510		$11,730	0		$0