Cornerstone Exercise 6-31 (Algorithm Inventory Costing Methods: Periodic LIFO (Appendix 6B) 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 June 1 Description Beginning Inventory Purchase 1 150 units @ $6 = $900 200 units $12 = $2,400 9 300 units @ $25 Sale 1 22 Purchase 2 250 units @ $14 = $3,500 225 units @ $25 29 Sale 2 Assume that Filimonov uses a periodic 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