Shown below is activity for one of the products of Denver Office Equipment: January 1...
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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 590 units @ $50 $29,500 Purchases: January 10: 590 units @ $50 January 20: 1,020 units @ $60 Sales: January 12: 840 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
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