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

January 1 balance, 640 units @ $50 $32,000

Purchases: January 10: 640 units @ $50

January 20: 1,120 units @ $57

Sales: January 12: 800 units

January 28: 780 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.

Ending Inventory?

Cost of Goods Sold?