Q2: Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 300 units @ $55 $27,500 Purchases January 10: 500 units a $60 January 20 1.000 units @ $63 Sales January 12. 800 units January 28 750 units Required: 1. Compute the ending inventory and cost of goods sold assuming Denver uses FIFO. 2. Compute the ending inventory and cost of goods sold assuming Denver uses average cost and a periodic inventory system. 3. Compute the ending inventory and cost of goods sold assuming Denver uses average cost and a perpetual inventory system