Cornerstone Exercise 6-32 (Algorithmic) Inventory Costing Methods: Periodic Average Cost (Appendix 6B) 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 150 units @ $10 - $1,500 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 Bordeaux uses a periodic inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Vote: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar) Cost of goods sold si 6,737 x Cost of ending inventory $ 962 X Feedback Check My Work For cost of goods sold and cost of ending inventory using the average cost method, apply the following steps: Step 1: Calculate the cost of goods available for sale for the period. Step 2 Apply the Inventory costing method recogbizing that under average cost, the cost of goods available for sale is allocated between ending inventory and cost of goods sold based on the average cost of the goods available for available for sale - units available for sale). ).