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 150 units @ $11 = $1,650 200 units@ $12 $2,400 Date Description Units Sold at Retail June 1 Beginning Inventory 9 Purchase 1 14 Sale 1 22 Purchase 2 29 Sale 2 300 units $25 250 units @ $14 $3,500 225 units $25 Assume that Bordeaux Company uses a perpetual inventory system Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold Cost of ending inventory$