Shown below is the activity for one of the products of Random Creations: January 1 balance, 95 units @ $56 $5,320

Purchases:

January 18: 65 units @ $64

January 28: 65 units @ $65

Sales:

January 12: 45 units

January 22: 45 units

January 31: 60 units

Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Random Creations uses average cost and a periodic inventory

ENDING INVENTORY

COST OF GOODS SOLD