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June 1 9 Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at
June 1 9 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 Beginning Inventory 150 units $12 - $1,800 Purchase 1 200 units 512 - $2,400 14 Sale 1 300 units @ $25 22 Purchase 2 250 units 514 - $3,500 Sale 2 225 units o $25 Assume that Filimonov uses a periodic inventory system Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per une calculations and round all other numbers to the nearest dollar) Cost of goods sold 6,737 Cost of ending inventory 29 964 X
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