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 FIFO.

Perpetual FIFO	Cost of Goods Available for Sale			Cost of Goods Sold - January 10			Cost of Goods Sold - January 25			Inventory Balance
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beg. Inventory	340	$22.00	$7,480	185	$22.00	$4,070		$22.00	$0		$22.00	$0
Purchases:
January 8	170	25.00	4,250	0	25.00	0		25.00	0		25.00	0
January 19	340	27.00	9,180	0	27.00	0		27.00	0		27.00	0
Total	850		$20,910	185		$4,070	0		$0	0		$0

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