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Orion tion Comp, uacks the number of units purchased and soid throughout each year but applies its inventory costing mothod at the end of the

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Orion tion Comp, uacks the number of units purchased and soid throughout each year but applies its inventory costing mothod at the end of the year as if it uses a periodic imentary system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 Requiredi 1. Cakculate the number and cost of goods available for ssle. 2. Cakculate the number of units in ending inventory. 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO and (b) weighted average cost. (Round Weighted average cost per unit to two decimal places and final answers to the nearest dollar amount.) 4. Prepare an income statement that shows amounts for the FFO method in one column and for the weighted average method in another column. Include the following line items in the income statement Sales, Cost of Goods Sold, Gross Profit, Operating Expenses. and incorne from Operations. (Round Weighted average cost per unit to two decimal places and final answers to the nearest dollar amount.)

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