Shown below is activity for one of the products of Denver Office Equipment: ...
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Accounting
| Shown below is activity for one of the products of Denver Office Equipment: |
| January 1 balance, 660 units @ $55 $36,300 |
| Purchases: |
| January 10: 660 units @ $60 |
| January 20: 1,180 units @ $65 |
| Sales: |
| January 12: 1,000 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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