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Shown below is activity for one of the products of Denver Office Equipment: January...

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Accounting

Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 650 units @ $60 per unit $39,000
Purchases:
January 10: 650 units @ $65 per unit
January 20: 1,200 units @ $70 per unit
Sales:
January 12:1,000 units
January 28: 790 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.
Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.
Ending inventory
Cost of goods sold
image

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