Cornerstone Exercise 6-23 (Algorithmic) Inventory Costing: LIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning Inventory "150 units @ $7 = $1,050 9 Purchase 1 200 units @ $12 - $2,400 14 Sale 1 300 units @ $25 22 Purchase 2 250 units @ $14 - $3,500 29 Sale 2 225 units @ $25 Assume that Filimonov Inc. 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