Cornerstone Exercise 6-32 (Algorithmic) Inventory Costing Methods: Periodic Average Cost (Appendix 6B) Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Description Units Purchased at Cost Units Sold at Retail 150 units @ $7 = $1,050 200 units @ $12 = $2,400 Date June 1 9 14 22 29 Beginning Inventory Purchase 1 Sale 1 Purchase 2 Sale 2 Assume that Bordeaux uses a periodic inventory system. 250 units @ $14 = $3,500 $ $ 300 units @ $25 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 225 units @ $25

Cornerstone Exercise 6-32 (Algorithmic) Inventory Costing Methods: Periodic Average Cost (Appendix 6B) Bordeaux Company has the following information related to purchases and sales of one of its invantnru items: Assume that Bordeaux 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