Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 660 units @ $55 $36,300
Purchases:
January 10: 660 units @ $60
January 20: 1,180 units @ $65
Sales:
January 12: 1,000 units
January 28: 800 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. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)