Cornerstone Exercise 6-32 (Algorithmic) Inventory Costing Methods: Periodic Average Cost (Appendix 68) Filimonov Inc. 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 Beginning inventory 150 units @ $9 - $1,350 9 Purchase 1 200 units a $12 - $2,400 Sale 1 300 units o $25 Purchase 2 250 units a $14 - $3,500 225 units o $25 Assume that Filimonov uses a periodic inventory system 14 22 29 Sale 2 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