January 1 balance, 550 units @ $60 $33,000
Purchases:
January 10:	550 units @ $65
January 20:	1,100 units @ $57
Sales:
January 12:	950 units
January 28:	800 units
that is used for the following questions 1. Compute the January 31 ending inventory and cost of goods sold for January, assuming the shop uses average cost periodic inventory system. ending inventory : cost of goods sold : 2. Compute the January 31 ending inventory and cost of goods sold for January, assuming the shop uses FIFO. ending inventory : cost of goods sold : 3. Compute the January 31 ending inventory and cost of goods sold for January, assuming shop uses LIFO periodic inventory system. ending inventory : cost of goods sold : 4. Compute the January 31 ending inventory and cost of goods sold for January, assuming the shop uses LIFO perpetual inventory system. ending inventory : cost of goods sold :