(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 Units Sold at Retail 150 units @ $10 = $1,500 200 units @ $12 = $2,400 Date June 1 Beginning Inventory Purchase 1 Sale 1 9 14 Description 22 Purchase 2 250 units @ $15 = $3,750 29 Sale 2 Assume that Filimonov uses a periodic inventory system. 300 units @ $25 225 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

(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 \$