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

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Accounting

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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