Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 630 units @ $55 $34,650 Purchases: January 10: 630 units @ $60 January 20: 1,260 units @ $62 Sales: January 12: 900 units January 28: 770 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO