1 Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 590 units @ $50 per unit $29,500 Purchases: January 10: 590 units @ $50 per unit January 20: 1,020 units @ $60 per unit 4 Sales: January 12: 840 units January 28: 790 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold

1 Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 590 units @ $50 per unit $29,500 Purchases: January 10: 590 units @ $50 per unit January 20: 1,020 units @ $60 per unit 4 Sales: January 12: 840 units January 28: 790 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold

Name: 1Shown below is activity for one of the products of Denver Office Equ
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Description: 1Shown below is activity for one of the products of Denver Office Equipment:January 1 balance, 590 units @ $50 per unit $29,500Purchases:January 10: 590 units @ $50 per unitJanuary 20: 1,020 units @ $60 per unit4Sales:January 12: 840 unitsJanuary 28

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.11E: Inventory Costing Methods VanderMeer Inc. reported the following information for the month of...

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Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 650 units @ $60 per unit $39,000 Purchases: January 10: 650 units @ $65 per unit January 20: 1,200 units @ $70 per unit Sales: January 12: 1,000 units January 28: 790 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system. Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar amount. Ending inventory Cost of goods sold
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