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

   January 1 balance, 500 units @ $55 $27,500

   Purchases:

   January 10: 500 units @ $60

   January 20: 1,000 units @ $63

   Sales:

   January 12: 800 units

   January 28: 750 units

   What is Denver Office Equipment%u2019s January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO?

   Answer

   		Ending inventory = $28,350; Cost of goods sold = $92,150
   		Ending inventory = $27,113; Cost of goods sold = $93,387
   		Ending inventory = $27,000; Cost of goods sold = $93,500
   		Ending inventory = $24,750; Cost of goods sold = $95,750

1. Per information provided in #29, what is Denver Office Equipment%u2019s January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system?

   Answer

   		Ending inventory = $28,350; Cost of goods sold = $92,150
   		Ending inventory = $24,750; Cost of goods sold = $95,750
   		Ending inventory = $27,000; Cost of goods sold = $93,500
   		Ending inventory = $26,750; Cost of goods sold = $93,750

1. Per information provided in #29, what is Denver Office Equipment%u2019s January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a periodic inventory system?

   Answer

   		Ending inventory = $27,113; Cost of goods sold = $93,387
   		Ending inventory = $26,750; Cost of goods sold = $93,750
   		Ending inventory = $24,750; Cost of goods sold = $95,750
   		Ending inventory = $27,000; Cost of goods sold = $93,500

Per information provided in #29, what is Denver Office Equipment%u2019s January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a periodic inventory system?

Answer

		Ending inventory = $27,000; Cost of goods sold = $93,500
		Ending inventory = $24,750; Cost of goods sold = $95,750
		Ending inventory = $27,113; Cost of goods sold = $93,387
		Ending inventory = $28,350; Cost of goods sold = $92,150