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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 640 units @ $50 $32,000 Purchases: January 10: 640

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

January 1 balance, 640 units @ $50 $32,000
Purchases:
January 10: 640 units @ $50
January 20: 1,120 units @ $57
Sales:
January 12: 800 units
January 28: 780 units

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

NEEDED.....

ENDING INVENTORY...?

COST OF GOODS SOLD....?

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