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

January $1$ balance, $530$ units @ $$55$ per unit $$29,150$

Purchases:

January $10$: $530$ units @ $$60$ per unit

January $20$: $1,060$ units @ $$64$ per unit

Sales:

January $12$: $820$ units

January $28$: $650$ units

Required:

Compute the January $31$ ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system.Shown below is activity for one of the products of Denver Office Equipment:

January $1$ balance, $530$ units @ $$55$ per unit $$29,150$

Purchases:

January $10$: $530$ units @ $$60$ per unit

January $20$: $1,060$ units @$$64$ per unit

Sales:

January $12$:$820$ units

January $28$ : $650$ units

Required:

Compute the January $31$ ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory

system.

Ending inventory

Cost of goods sold