Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 650 units & $60 $39,000 Purchases: January 10: 650 units @ $65 January 20: 1,200 units a $70 Sales: January 12: 1,000 units January 28: 790 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO Ending inventory Cost of goods sold