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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 510 units @ $60 $30,600 Purchases: January 10: 510
Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 510 units @ $60 $30,600 | |
Purchases: | |
January 10: | 510 units @ $65 |
January 20: | 1,020 units @ $69 |
Sales: | |
January 12: | 740 units |
January 28: | 760 units |
|
Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO
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