Cornerstone Exercise 6-32 (Algorithmic) Inventory Costing Methods: Periodic Average Cost (Appendix ) 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 June 1 tegning Inventory 150 units $ 851.200 Purchase 200 units 512 - $2.400 14 Sale ! 300 units $25 22 Purchase 2 250 units 514 - $3,500 29 Sale2 225 units a $25 Assume that Bordeaux uses a penodic inventory system Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per unit calculations and round all other numbers to the nearest dollar) Cost of goods sold 6,213 X Cost of ending inventory 7 Check For cost of goods and cost of ending inventory wing the average cost mod apply the following steps Step 1 ace the cost of goods available for sale for the period Sirp 2. Apply the inventory costing method recogning that under age cost the cost of good valable for sale is located between ending inventory and cost of goods sold based on the way cost of the goods we for sale (cost of goods able for sale nutsvatable for sale)