Shown below is activity for one of the products of Denver Office Equipment: January 1...
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Accounting
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 $3 per unit Sales: January 12: 800 units January 28: 750 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual nventory system. Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar amount
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