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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 660 units @ $55$36,300 Purchases: January 10: 660 units
Shown below is activity for one of the products of Denver Office Equipment: |
January 1 balance, 660 units @ $55$36,300 |
Purchases: |
January 10: 660 units @ $60 |
January 20: 1,180 units @ $65 |
Sales: |
January 12: 1,000 units |
January 28: 800 units |
Required: |
Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a periodic inventory system.(Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)
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NEED COST OF GOODS SOLD AND ENDING INVENTORY.
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