Cornerstone Exercise 6-32 (Algorithmic) Inventory Costing Methods: Periodic Average Cost (Appendix 6B) Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Units Purchased at Cost Units Sold at Retail Description Beginning Inventory Purchase 1 Sale 1 Purchase 2 Sale 2 June 1 9 14 22 29 150 units @ $5 = $750 200 units @ $12 = $2,400 300 units $25 250 units @ $14 = $3,500 225 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 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 Cost of ending inventory