Question
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 670 units @ $60 $40,200 Purchases: January 10: 670
Shown below is activity for one of the products of Denver Office Equipment:
| January 1 balance, 670 units @ $60 $40,200 |
| Purchases: |
| January 10: 670 units @ $54 |
| January 20: 1,060 units @ $60 |
| Sales: |
| January 12: 900 units |
| January 28: 800 units |
Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system.
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Audit And Assurance Principles And Practices In Singapore
Authors: Dr Ernest Kan
5th Edition
9814838136, 978-9814838139
