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 Units 3,000 Unit Cost $24 Transactions a. Triventory, Beginning For the year b. Purchase, April 11 t. Purchase, June 1 d. Sale, May 1 (sold for $52 per unit) e.Sale, Duly (sold for $52 per unit) 22 25 11,200 10,200 3.000 7,200 Required: 1. Calculate the ending inventory using the FIFO method. 2. Calculate the cost of goods sold using the weighted average method