Samuelson and Messenger (SAM) began 2021 with 380 units of its one product. These units were purchased near the end of 2020 for $24 each. During the month of January, 190 units were purchased on January 8 for $27 each and another 380 units were purchased on January 19 for $29 each. Sales of 185 units and 280 units were made on January 10 and January 25, respectively. There were 485 units on hand at the end of the month. SAM uses a perpetual inventory system. Required:1. Calculate ending inventory and cost of goods sold for January using FIFO. FIFO Cost of Goods Cost of Goods Sold - Ending Inventory - Available for Sale Periodic FIFO Periodic FIFO # of Cost Cost of # of Cost Cost of # of Cost Ending units per Goods Available units per Goods units in per Inventory unit for Sale sold unit Sold ending unit inventory 2. Calculate ending inventory and cost of goods sold for January using average cost. FIFO Cost of Goods Cost of Goods Sold - Ending Inventory - Available for Sale Average Cost Average Cost# of Cost Cost of # of Average Cost of # of Average Ending units per Goods Available units Cost per Goods units in Cost per Inventory unit for Sale sold unit Sold ending unit inventory