January 1 balance, 500 units @ $50per unit $25,000

Purchases:

January 10:500 units @ $50 per unit

January 20:1,000 units @ $57 per unit

Sales:

January 12:800 units

January 28:780 units

Compute the January 31 ending inventory and cost of goods sold for January, assuming Milluses LIFO and a periodic inventory system.