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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, 680 units @ $55 $37,400

Purchases:

January 10: 680 units @ $60

January 20: 1,190 units @ $62

Sales:

January 12: 850 units

January 28: 820 units

Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a periodic inventory system. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)

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