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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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