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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 520 units @ $50$26,000 Purchases:January 10: 520 units @
Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 520 units @ $50$26,000
Purchases:January 10: 520 units @ $55
January 20: 1,040 units @ $59
Sales:January 12: 780 units
January 28: 770 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 -?
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