14 Chapter 8 & 9 Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 568 units @ $56 per unit $31, 360 Purchases January 560 units @ $61 per unit :18:03 January 1, 120 units @ $65 per unit Sales: January 948 units 12: January 810 units 28: Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold