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 58 = $1,200 Purchase : 200 units $12 -52,400 Sale 1 300 units o $25 22 Purchase 2 250 units $14 = $3,500 29 Sale 2 225 units e $25 9 14 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. (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 619 PM