Shown below is activity for one of the products of Denver Office Equipment:

January 1 balance, 700 units @ $55 $38,500
Purchases:
January 10:	700 units @ $60
January 20:	1,050 units @ $62
Sales:
January 12:	1,000 units
January 28:	840 units

Required:

Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a periodic inventory system.