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V. Denver Office Equipment - Inventory (Total: 10 points) Shown below are activities for one of the products of Denver Office Equipment in January: # of Units Unit Costs January 1 balance: 500 $55 Purchases: January 10: 500 $60 January 20: 1,000 $63 Sales: January 12: 800 January 28: 750 The selling price for the products sold on January 12 and January 28 is $100 for each unit (1) Assuming Denver Office Equipment uses First-In-First-Out (FIFO) and a periodic inventory system, Compute the cost of goods sold for January and ending inventory at January 31. (show your work below, 2 points) (2) Assuming Denver Office Equipment uses Last-In-First-Out (LIFO) and a perpetual inventory system. Compute the cost of goods sold for the sales on January 12 and for the sales on January 28, and show the income statement presentation of sales and cost of goods sold for January (show your work below, 4 points) (3) Assuming Denver Office Equipment uses Weighted Average Cost approach and a perpetual inventory system. Compute the cost of goods sold for the sales on January 12 and for the sales on January 28 (show your work below, 4 points)