Shown below is activity for one of the products of Denver Office Equipment: ...
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Accounting
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Shown below is activity for one of the products of Denver Office Equipment: |
| January 1 balance, 600 units @ $50 $30,000 |
| Purchases: |
| January 10: 600 units @ $55 |
| January 20: 1,200 units @ $58 |
| Sales: |
| January 12: 900 units |
| January 28: 800 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
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