Cornerstone Exercise 6-24 (Algorithmic) Inventory Costing: Average Cost Bordeaux Company 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 9 Purchase 1 150 units $5-$1,500 200 units $12 $2,400 14 Sale 1 22 Purchase 2 300 units $25 250 units $14-$3,500 29 Sale 2 226 units @ $25 Assume that Bordeaux uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.) Cost of goods sold Cost of ending inventory