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 Description Units Sold at Retail Units Purchased at Cost 150 units @ $8 - $1,200 200 units @ $12 = $2,400 June 1 9 14 22 Beginning Inventory Purchase 1 Sale 1 Purchase 2 300 units $25 250 units $14 - $3,500 29 Sale 2 225 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 $ 6,500 X Cost of ending inventory $ 600 X