Cornerstone Exercise 6-30 (Algorithmic) Inventory Costing Methods: Periodic FIFO (Appendix 6B) Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Date Description June 1 Beginning Inventory Units Purchased at Cost 150 units $10 = $1,500 Units Sold at Retail 9 Purchase 1 200 units @ $12 = $2,400 14 Sale 1 300 units $25 22 Purchase 2 250 units $19 = $4,750 29 Sale 2 225 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 7,050 X Cost of ending inventory 1,350 X