(Appendix 6B) Inventory Costing Methods: Periodic LIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Units Sold at Retail Units Purchased at Cost 150 units @ $11 = $1,650 200 units @ $12 = $2,400 Date June 1 9 14 22 Description Beginning Inventory Purchase 1 Sale 1 Purchase 2 29 Sale 2 Assume that Filimonov uses a periodic inventory system. 250 units @ $14 = $3,500 $ $ 300 units @ $25 Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold Cost of ending inventory 225 units @ $25

(Appendix 6B) Inventory Costing Methods: Periodic LIFO 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 LIFO inventory costing method. Cost of goods sold Cost of ending inventory \$