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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 560 units $56 $31,360 Purchases: January560 units $61 10:

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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 560 units $56 $31,360 Purchases: January560 units $61 10: January 20: 1,120 units $65 Sales: Jry 940 units 12: January 810 units 28: 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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