Compute the january ending inventory and cost of goods sold

Assignment Help Financial Accounting

Reference no: EM133465135

Accounting Problem

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

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

Purchases:

January 10: 500 units @ $60 per unit
January 20: 1,000 units @ $63 per unit

Sales:

January 12: 800 units
January 28: 750 units

Task

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

Reference no: EM133465135

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