Cornerstone Exercise 6-30 (Algorithmic) Inventory Costing Methods: Periodic FIFO (Appendix 68) 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 Beginning Inventory 150 units a s10 - $1,500 9 Purchase 1 200 units o $12 = $2,400 Sale 1 300 units @ $25 Purchase 2 250 units $13 - $3,250 29 Sale 2 225 units $25 June 1 14 22 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 Cost of ending inventory IN