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Inventory Costing: LIFO Bordeaux Company has the following information related to purchases and sales of one of its inventory items: table [ [ Date

Inventory Costing: LIFO
Bordeaux Company has the following information related to purchases and sales of one of its inventory items:
\table[[Date,Description,Units Purchased at Cost,Units Sold at Retai],[June 1,Beginning Inventory,150 units @$7=$1,050,-],[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 Bordeaux uses a perpetual inventory system.
Required:
Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method.
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