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lifo and peridoic inventory highlight answer Shown below is activity for one of the products of Denver Office Equipment January 1 balance, 500 units @

lifo and peridoic inventory highlight answer
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Shown below is activity for one of the products of Denver Office Equipment January 1 balance, 500 units @ $55 per unit $27,500 Purchases: January 10: see units @ $60 per unit January 20: 1,000 units 563 per unit Sales: January 12: 300 units January 28: 750 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a periodic inventory system Ending inventory Cost of goods sold

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