Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 570 units @ $50 $28,500
Purchases:
January 10: 570 units @ $60
January 20: 1,060 units @ $61
Sales:
January 12: 1,000 units
January 28: 770 units
Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO.