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 following information at the end of the annual accounting period, December $31.$

Transactions Units Unit Cost

a$.$ Inventory, Beginning $3,300$ $$19$

For the year:

b$.$ Purchase, April $119,90017$

c$.$ Purchase, June $18,80020$

d$.$ Sale, May $1($sold for $$47$ per unit$)3,300$

e$.$ Sale, July $3($sold for $$47$ per unit$)6,700$

f$.$ Operating expenses $($excluding income tax expense$),$ $$216,000$