January 1 balance, 560 units @ $56 per unit $31,360 Purchases: January 10: 560 units @...

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January 1 balance, 560 units @ $56 per unit $31,360 Purchases: January 10: 560 units @ $61 per unit January 20: 1,120 units @ $65 per unit Sales: January 12: 940 units January 28: 810 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. Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar amount. Ending inventory Cost of goods sold January 1 balance, 560 units @ $56 per unit $31,360 Purchases: January 10: 560 units @ $61 per unit January 20: 1,120 units @ $65 per unit Sales: January 12: 940 units January 28: 810 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. Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar amount. Ending inventory Cost of goods sold

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To compute the January 31 ending inventory and cost of goods sold for January we will use the averag... View the full answer