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

January 1 balance, 670 units @ $60 $40,200

Purchases:

January 10: 670 units @ $54

January 20: 1,060 units @ $60

Sales:

January 12: 900 units

January 28: 800 units

Required:

Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO.