Cornerstone Exercise 6-24 (Algorithmic) Inventory Costing: Average Cost 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 @ $10 = $1,500

Purchase 1 200 units @ $12 = $2,400

Sale 1 300 units @ $25

Purchase 2 250 units @ $14 = $3,500

Sale 2 214 units @ $25

Assume that Filimonov uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Round per-unit calculations to two decimal places.) Cost of goods sold $ Cost of ending inventory $