Help Save&ExitSub Orion Iron Corp. 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 a. Inventory, Beginning For the years b. Farehase, Aprii 11 d. Sale, May 1 (sold for $43 per unie e.Sale, July 3 (soid for $43 per unit) f. operating expenses texcluding income tax expense), $18,400 Required: Calculate the cost of ending inventory and the cost of goods sold using the FIFO and LIFO methods Cost of Ending Cost of Goods Sold