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, 500 units @ $55 per unit $27,500
Purchases:
January 10: 500 units @ $60 per unit
January 20: 1,000 units @ $63 per unit
Sales:
January 12: 800 units
January 28: 750 units
Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system.
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