Inventory Costing: LIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Units Purchased at Cost Units Sold at Retail Date Description June 1 Beginning Inventory 150 units $5 = $750 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 Filimonov uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold 6,250 X Cost of ending inventory 700 X