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Cornerstone Exercise 6-23 (Algorithmic) Inventory Costing: LIFO Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Units Purchased at Cost Units Sold at Retail Date Description 150 units @ $8 = $1,200 June 1 Beginning Inventory 200 units @ $12 = $2,400 Purchase 1 300 units @ $25 14 Sale 1 250 units @ $14 = $3,500 Purchase 2 22 225 units @ $25 29 Sale 2 Assume that Bordeaux Company uses a perpetual inventory system Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. $ 6,500 X Cost of goods sold Cost of ending inventory 600 X