Cornerstone Exercise 6-32 (Algorithmic) Inventory Costing Methods: Periodic Average Cost (Appendix 6B) Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Units Purchased at Cost Units Sold at Retail Date Description June 1 Beginning Inventory 150 units @ $5 = $750 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 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 fou Cost of goods sold Cost of ending inventory 1,050 X