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Inventory Costing: Average cost Filimonov Inc. has the following information related to purchases and sales of one of its inventory items Date Description Units Purchased

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Inventory Costing: Average cost Filimonov Inc. 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 200 units @ $10 = $2.000 9 Purchase 1 300 units @ $12 = $3.600 14 Sale 1 400 units @ 525 22 Purchase 2 250 units @ $14 $3,500 29 Sale 2 225 units @ $25 Assume that the company 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 two decimales) Cost of goods sold Cost of ending inventory

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