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Salt and Mineral $($SAM$)$ began $2024$ with $360$ units of its one product. These units were purchased near the end of $2023$ for $$25$ each. During the month of January, $180$ units were purchased on January $8$ for $$28$ each and another $360$ units were purchased on January $19$ for $$30$ each. Sales of $140$ units and $260$ units were made on January $10$ and January $25,$ respectively. There were $500$ units on hand at the end of the month. SAM uses a periodic inventory system.

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Calculate ending inventory and cost of goods sold for January using FIFO.

Calculate ending inventory and cost of goods sold for January using average cost.

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Calculate ending inventory and cost of goods sold for January using FIFO.

$\backslash$table$[[\backslash$table$[[)$Salt and Mineral $($SAM$)$ began $2024$ with $360$ units of its one product. These units were purchased near the end of $2023$ for $$25$ each. During the month of January, $180$ units were purchased on January $8$ for $$28$ each and another $360$ units were purchased on January $19$ for $$30$ each. Sales of $140$ units and $260$ units were made on January $10$ and January $25,$ respectively. There were $500$ units on hand at the end of the month. SAM uses a periodic inventory system.

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