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Filimonov Inc. has the following information related to purchases and sales of one of its...

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Accounting

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 150 units @ $11 = $1,650
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 periodic inventory system.

Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method.

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