S 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 a. Inventory, Beginning For the year: b. Purchase, April 11 c. Purchase, June 1 d.Sale, May 1 (sold for $40 per unit) e.Sale, July 3 (sold for $40 per unit) Units 3,000 Unit Cost $12 9,000 10 8,000 13 3,000 6,000 f.Operating expenses (excluding income tax expense), $195,000 Required: 1. Calculate the number and cost of goods available for sale. Number of goods available for sale Cost of goods available for sale $ 20,000 units 230,000 2. Calculate the number of units in ending inventory. Ending inventory 11,000 units 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO and (b) weighted average cost. (Round Weighted