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Salt and Mineral (SAM) began 2024 with 340 units of its one product. These units were purchased near the end of 2023 for $24 each. During the month of January, 170 units were purchased on January 8 for $27 each and another 300 units were purchased on January 19 for $29 each. Sales of 160 units and 220 units were made on January 10 and January 25 , respectively. There were 430 units on hand at the end of the month. SAM uses a perpetual 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. Salt and Mineral (SAM) began 2024 with 340 units of its one product. These units were purchased near the end of 2023 for $24 each. During the month of January, 170 units were purchased on January 8 for $27 each and another 300 units were purchased on January 19 for $29 each. Sales of 160 units and 220 units were made on January 10 and January 25 , respectively. There were 430 units on hand at the end of the month. SAM uses a perpetual 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. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost Note: Round cost per unit to 2 decimal places. Enter inventory reductions from sales as negative numbers

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