Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 600 units @ \$50 per unit $30,000 Purchases: January 10: 600 units @ \$55 per unit January 20: 1,000 units @ \$58 per unit Sales: January 12:850 units January 28: 800 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO an periodic inventory system