Chapter 7 Homework 4 Orion Iron Corp tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the year, as if it uses a periodic inventory system. Assume its accounting records provided the folowing information at the end of the annual accounting period, December 31 142 the years b. Purchase, p:l 1 00 1 e. Operating expenses (exeluding Lneone tax expense)10 Required: 1 Calculate the number and cost of goods available for sale 2. Calcuiate the number of units in ending inventory 3. Compute the cost of ending inventory and cost of goods sold under (FIFO (tFO, and (ej weighted average cost 4 Prepare an income statement that shows under the FIFO method, LIFO method and weighted average method befenences 6.Which inventory costing method minimizes income tases? Complete this question by entering your answers in the tabs below. Requred 1 Required 2 Required3 Required 4Requireds Caloulate the number and cost of goeds avalable for sale. ef Goods Avalisbe MacBook Air 20 2