Cornerstone Exercise 6-23 (Algorithmic) Inventory Costing: LIFO Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Date June 1 Description Beginning Inventory Units Purchased at Cost Units Sold at Retail 150 units @ $7 = $1,050 9 Purchase 1 200 units @ $12 = $2,400 14 Sale 1 300 units @ $25 250 units @ $14 = $3,500 225 units @ $25 22 Purchase 2 29 Sale 2 Assume that Bordeaux Company uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold Cost of ending inventory