On January 1, 2021, the National Furniture Company adopted the dollar-value LIFO method of computing inventory. An internal cost index is used to convert ending inventory to base year. Inventory on January 1 was $212,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 Inventory at Year-end Costs $285,120 337,120 340,400 Cost Index (Relative to Base Year) 1.08 1.12 1.15 2021 2022 2023 Required: Compute inventory amounts at the end of each year using the dollar-value LIFO method. Date Ending Inventory DVL Cost 12/31/2021 12/31/2022 12/31/2023 Selected financial statement data from Western Colorado Stores is shown below. Net sales Cost of goods sold Operating expenses Inventory 2021 $920,000 690,000 118,000 120,000 2020 $940,000 710,000 98,000 80,000 Required: 1. Compute the gross profit ratio for 2021. (Round your "Percentage" answer to two decimal places (i.e., 0.1234 should be entered as 12.34).) 2. Compute the inventory turnover ratio for 2021. (Round your answer to two decimal places.) % 1. Gross profit ratio 2. Inventory turnover ratio Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 630 units @ $55 per unit $34,650 Purchases: January 10: 630 units @ $60 per unit January 20: 1,260 units @ $62 per unit Sales: January 12: 900 units January 28: 770 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Ending inventory Cost of goods sold