Samuelson and messenger sampm began 2013 with 220 units of

Reference no: EM13485123

Samuelson and Messenger (S&M) began 2013 with 220 units of its one product. These units were purchased near the end of 2012 for $22 each. During the month of January, 110 units were purchased on January 8 for $25 each and another 220 units were purchased on January 19 for $27 each. Sales of 130 units and 120 units were made on January 10 and January 25, respectively. There were 300 units on hand at the end of the month. S&M uses a perpetual inventory system.

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

Reference no: EM13485123

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