Cornerstone Exercise 6-30 (Algorithmic) Inventory Costing Methods: Periodic FIFO (Appendix 6B) Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units Sold at Retail June 1 Beginning Inventory Units Purchased at Cost 150 units @ $10 = $1,500 200 units @ $12 = $2,400 300 units @ $25 14 22 29 Purchase 1 Sale 1 Purchase 2 Sale 2 250 units @ $15 = $3,750 225 units $25 Assume that Filimonov 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 Cost of ending inventory