eBook Video Calculator Print Item Cornerstone Exercise 6-21 (Algorithmic) Inventory Costing: Weighted Average Cost Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Units Sold at Retail Date Description June 1 Beginning Inventory Units Purchased at Cost 150 units $10-$1,500 200 units $12 - $2,400 9 Purchase 1 14 Sale 1 300 units $25 22 Purchase 2 250 units $14 - $3,500 29 Sale 2 224 units $25 Assume that Filimonov uses a perpetual 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 Check My Work For cost of goods sold and cost of ending inventory using the using the average cost method, apply the following steps: Step 1. Cacate the cost of goods available for a w ediately prior to the sale transaction Step 2. Apply the inventory costing method recognizing that underverage cost the cost of goods available for sales located between ending inventory and cost of goods sold, based on a weighted average cost of the goods available for sale (cost of goods available for sale units available for sale Step 3: Repeat the frst two steps for all inventory transactions during the period See Comorstone 6-6. Check My Work All work saved Save and Exit Submit Assignment for Grading MacBook Air