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, 690 units e $60 $41,400 Purchases: January 10: January 20: Sales: 690 units $64 1,040 units $66 January 12: January 28: 1,000 units 800 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a periodic inventory system. Ending inventory Cost of goods sold
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