Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Description Units Purchased at Cost 150 units @ $10 = $1,500 200 units @ $12 = $2,400 Date June 1 9 14 22 Beginning Inventory Purchase 1 Sale 1 Purchase 2 29 Sale 2 Assume that Bordeaux uses a periodic inventory system. Cost of ending inventory 250 units @ $14 = $3,500 $ $ Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold X Units Sold at Retail X 300 units @ $25 225 units @ $25

Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Assume that Bordeaux uses a periodic inventory system