Problem 8-121 Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 570 units @ $50 $28,500 Purchases: January 10: 570 units @ $60 January 20: 1,060 units @ $61 Sales: January 12: 1,000 units January 28: 770 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold