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4 eBook References Orion Iron Corporation tracks the number of units purchased and sold throughout each year but applies its inventory costing method perpetually at

4
eBook
References
Orion Iron Corporation tracks the number of units purchased and sold throughout each year but applies its inventory costing method
perpetually at the time of each sale, as if it uses perpetual inventory system. Assume its accounting records provided the following
information at the end of the annual accounting period, December 31.
f. Operating expenses (excluding income tax expense), $19,200
Required:
Calculate the cost of ending inventory and the cost of goods sold using the FIFO and LIFO methods.
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