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Compute the january ending inventory and cost of goods sold

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Reference no: EM132815210

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

January 1 balance, 530 units @ $55 per unit $29,150

Purchases:

January 10:530 units @ $60 per unit

January 20:1,060 units @ $64 per unit

Sales:

January 12: 820 units

January 28: 650 units

Required:

Problem 1: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO

Reference no: EM132815210

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