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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, 540 units @ $50 per unit $27,000
Purchases:
January 10: 540 units @ $55 per unit
January 20:1,020 units @ $56 per unit
Sales:
January 12: 910 units
January 28: 790 units
Required:
Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system.
Ending inventory
Cost of goods sold
image

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