Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Description Units Purchased at Cost Units Sold at Retail Date 150 units @ $7 = $1,050 June 1 Beginning Inventory 200 units @$12 = $2,400 Purchase 1 300 units @ $25 Sale 1 14 250 units @$14 = $3,500 Purchase 2 22 Sale 2 225 units @ $25 29 Assume that Filimonov uses a periodic inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. 6,250 X Cost of goods sold $ Cost of ending inventory 700 X