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 Unit Transactions Units Cost 500 $10 a. Inventory, Beginning For the year: b. Purchase, April 11 c. Purchase, June 1 d. Sale, May 1 (sold for $38 per unit) e. Sale, July 3 (sold for $38 per unit) f. Operating expenses (excluding income tax expense), $19,000 800 700 500 520 12 Required: 1. Calculate the number and cost of goods available for sale 2,000 units $ 28,500 Number of Goods Available for Sale Cost of Goods Available for Sale 2. Calculate the number of units in ending inventory Ending Inventory 980 units