Problem 8-125 Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 660 units @ $55 $36,300 Purchases: January 10: 660 units @ $60 January 20: 1,010 units @ $65 Sales: January 12: 1,000 units January 28: 800 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 Problem 8-124 Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 580 units @ $60 $34,800 Purchases: January 10: 580 units @ $65 January 20: 1,040 units @ $68 Sales: January 12: 900 units January 28: 780 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