Cornerstone Exercise 6-22 (Algorithmic) Inventory Costing: FIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Units Purchased at Cost Units Sold at Retail Date Description June 1 Beginning Inventory 150 units @ $11 = $1,650 200 units @ $12 = $2,400 9 Purchase 1 300 units @ $25 14 Sale 1 22 Purchase 2 250 units @ $14 = $3,500 225 units @ $25 29 Sale 2 Assume that Filimonov uses a perpetual 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 Cost of ending inventory