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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 520 units @ $50 $26,000 Purchases: January 10: 520

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

January 1 balance, 520 units @ $50 $26,000
Purchases:
January 10: 520 units @ $55
January 20: 1,040 units @ $59
Sales:
January 12: 780 units
January 28: 770 units

Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO.

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