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

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

January 1 balance 500 units @ $60

$27500

Purchases:

January 10 500 units@

$60

January 20 1000 units@

$63

Sales:

January 128000

Units

January 28

750 units

a. Compute the ending inventory and cost of goods sold assuming Denver uses FIFO.

b. Compute the ending inventory and cost of goods sold assuming Denver uses LIFO and a perpetual inventory system.

c. Compute the ending inventory and cost of goods sold assuming Denver uses average cost and a periodic inventory system.

d. Compute the ending inventory and cost of goods sold assuming Denver uses average cost and a perpetual inventory system.

b. Compute the ending inventory and cost of goods sold assuming Denver uses LIFO and a periodic inventory system.