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

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

Purchases:

January 10: 500 units @ $60 per unit

January 20: 1,000 units @ $63 per unit

Sales:

January 12: 800 units

January 28: 750 units

Required:

1. Prepare the end of period entry using LIFO, periodic system. (Indicate Debit or Credit when entering into the Account.)

Account	Balance
Debit Inventory	[c]
[d]	[e]
Credit Inventory	[f]
[g]	[h]