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$($Appendix $6$B$)$ Inventory Costing Methods: Periodic FIFO

Filimonov Inc. has the following information related to purchases and sales of one of its inventory items:

DateDescriptionUnits Purchased at CostUnits Sold at RetailJune $1$Beginning Inventory$150$ units @ $$10=$ $$1,5009$Purchase $1200$ units @ $$12=$ $$2,40014$Sale $1300$ units @ $$2522$Purchase $2250$ units @ $$16=$ $$4,00029$Sale $2225$ units @ $$25$

Assume that Filimonov uses a periodic inventory system.

Required:

Calculate the cost of goods sold and the cost of ending inventory using the FIFO inventory costing method.

Cost of goods sold$fill in the blank $1$Cost of ending inventory$fill in the blank $2$