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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 630 units @ $55 $34,650 Purchases: January 10: 630

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

January 1 balance, 630 units @ $55 $34,650
Purchases:
January 10: 630 units @ $60
January 20: 1,260 units @ $62
Sales:
January 12: 900 units
January 28: 770 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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