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 FIFO.

Ending inventory =

Cost of Goods Sold=

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: 1,180 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 average cost and a periodic inventory system. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)

Ending inventory =

Cost of Goods Sold=