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: January 20: 500 units @ $60 per unit 1,000 units @ $63 per unit Sales: January 12: January 28: 800 units 750 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold