Inventory Costing: Average Cost 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
June 9	Purchase 1	1200 units @ $12 = $2,400
June 14	Sale 1		300 units @ $25
June 22	Purchase 2	250 units @ $14 = $3,500
June 29	Sale 2		234 units @ $25

Assume that Bordeaux 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 4 decimal places and al other numbers to the nearest dollar.)

ANSWER:

Cost of goods sold

Cost of ending inventory