Cornerstone Exercise 6-31 (Algorithmic) Inventory Costing Methods: Periodic LIFO (Appendix 68) 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 @ $6 = $900 200 units @ $12 - $2,400 9 Purchase 1 300 units @ $25 14 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