(Appendix 6B) Inventory Costing Methods: Periodic FIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Units Purchased at Cost Date June 1 9 14 22 Description Beginning Inventory Purchase 1 Sale 1 Purchase 2 150 units @ $10 = $1,500 200 units @ $12 = $2,400 29 Sale 2 Assume that Filimonov uses a periodic inventory system. $ 250 units @ $13 = $3,250 $ Units Sold at Retail 300 units @ $25 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 225 units @ $25

(Appendix 6B) Inventory Costing Methods: Periodic FIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: 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 Cost of ending inventory