Samuelson and Messenger (S&M) began 2018 with 340 units of its one product. These units were purchased near the end of 2017 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 240 units were made on January 10 and January 25, respectively. There were 425 units on hand at the end of the month. S&M 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 Cost of Goods Available for Sale #of units # of units sold Cost per unit Cost per Cost of Ending Inventory Cost per unit in ending inventory # of units Goods Sold unit 0.00 $ Beginning Inventory Purchases: $ 0 0.00 0 0 0 0 0.00 0.00 0 January 8 0.00 0 0 0.00 0 January 19 $ 0 $ 0 0 0 $ Total 0