Question: ( Appendix 6 B ) Inventory Costing Methods: Periodic FIFO Bordeaux Company has the following information related to purchases and sales of one of its

(Appendix 6B) Inventory Costing Methods: Periodic FIFO Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning Inventory 150 units @ $10= $1,5009 Purchase 1200 units @ $12= $2,40014 Sale 1300 units @ $2522 Purchase 2250 units @ $19= $4,75029 Sale 2225 units @ $25 Assume that Bordeaux uses a periodic inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the FIFO inventory costing method. Cost of goods sold $fill in the blank 1 Cost of ending inventory $fill in the blank 2

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