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Compute the January cost of ending inventory

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Reference no: EM132524247

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

January 1 balance, 500 units @ $55 $27,500

Purchases:

January 10: 500 units @ $60

January 20: 1,000 units @ $63

Sales:

January 12: 800 units

January 28: 750 units

Required - Compute the January 31 cost of ending inventory and cost of goods sold for January, assuming Denver uses LIFO under a periodic and perpetual inventory system.

Reference no: EM132524247

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