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Appendix 6B) Inventory Costing Methods: Periodic Average Cost Bordeaux Company has the following information related...

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Accounting

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Appendix 6B) Inventory Costing Methods: Periodic Average Cost Bordeaux Company 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 150 units @ $6 - $900 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 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 p calculations and round all other numbers to the nearest dollar.) Cost of goods sold Cost of ending inventory

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