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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 610 units @ $55 per unit $33,550 Purchases: January

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

January 1 balance, 610 units @ $55 per unit $33,550
Purchases:
January 10: 610 units @ $60 per unit
January 20: 1,030 units @ $65 per unit
Sales:
January 12: 1,000 units
January 28: 750 units

Required:

Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a periodic inventory system.

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