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Inventory Costing: LIFO 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: LIFO 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 210 units @ $11 = $2,310 9 Purchase 1 290 units @ $15 = $4,350 14 Sale 1 310 units @ $25 22 Purchase 2 200 units @ $17 = $3,400 29 Sale 2 195 units @ $25 Refer to the information for Filimonov Inc. and assume that the company uses a perpetual inventory system. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold Cost of ending inventory

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