Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 550 units @ $55 $30,250 Purchases: January 10: 550 units @ $60 January 20: 1,030 units @ $62 Sales: January 12: 800 units January 28: 820 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a periodic inventory system.