Print item Cornerstone Exercise 6-22 Inventory Costing: FIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Assume that the company uses a perpetual inventory system Units Sold at Retail Date Description June 1 Beginning Inventory 9 Purchase 1 14 Sale 1 22 Purchase 2 Units Purchased at Cost 200 units $10-$2,000 300 units $12 - $3,600 400 units $25 250 units $14 - $3,500 29 Sale 2 225 units @ $25 Required: Calculate the cost of goods sold and the cost of ending Inventory using the FIFO inventory costing method. Cost of goods sold Cost of ending inventory Check My Work Previous