Question: Need Help Solving with explanation please. Will upvote (Appendix 6B) Inventory Costing Methods: Periodic FIFO Bordeaux Company has the following information related to purchases and

Need Help Solving with explanation please. Will upvote

Need Help Solving with explanation please. Will upvote (Appendix 6B) Inventory Costing

(Appendix 6B) Inventory Costing Methods: Periodic FIFO Bordeaux Company 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 @ $10 = $1,500 200 units @ $12 = $2,400 9 Purchase 1 14 Sale 1 300 units @ $25 22 Purchase 2 250 units @ $18 = $4,500 29 Sale 2 225 units @ $25 Assume that Bordeaux uses a periodic inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the FIFO inventory costing method. Cost of goods sold $ Cost of ending inventory

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