Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 500 units @ $55 per unit ??????????? $27,500 Purchases: ????? January 10: 500 u

24 Jun Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 500 units @ $55 per unit ??????????? $27,500 Purchases: ????? January 10: 500 u

Posted at 07:59h in Business & Finance / Accounting by

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

January 1 balance, 500 units @ $55 per unit $27,500

Purchases:

January 10: 500 units @ $60 per unit

January 20: 1,000 units @ $63 per unit

Sales:

January 12: 800 units

January 28: 750 units

Required: (12 points)

Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system.