Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 580 units @ $60 per unit $34,800 Purchases: January 10: 580 units @ $65 per unit January 20: 1,040 units @ $68 per unit Sales: January 12: 900 units January 28: 780 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

Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 580 units @ $60 per unit $34,800 Purchases: January 10: 580 units @ $65 per unit January 20: 1,040 units @ $68 per unit Sales: January 12: 900 units January 28: 780 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

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13A: Perpetual Inventory Method: Lifo And Moving-average Methods

Section: Chapter Questions

Problem 2SPA: PERPETUAL: LIFO AND MOVING-AVERAGE Kelley Company began business on January 1, 20-1. Purchases and...

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