Shown below is activity for one of the products of Denver Office Equipment: January 1 balance,...

 

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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 560 units @ $56 per unit $31,360 Purchases: January 560 units @ $61 per unit 10: January 1,120 units e $65 per unit 20: Sales: January 12: 940 units January 810 units 28: Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Ending inventory Cost of goods sold Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 560 units @ $56 per unit $31,360 Purchases: January 560 units @ $61 per unit 10: January 1,120 units e $65 per unit 20: Sales: January 12: 940 units January 810 units 28: Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Ending inventory Cost of goods sold

Answer rating: 100% (QA)

Answer Ending Inventory on Jan 31 Cost of goods sold Jan 31 30230 108090 Perpetual LIFO E... View the full answer