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Orion Iron Corp. tracks the number of units purchased and sold throughout each year but...

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Accounting

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Orion Iron Corp. tracks the number of units purchased and sold throughout each year but applies its r, 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 Cos 300 $19 a. Inventory, Beginning For the year b. Purchase, April 11 c. Purchase, June1 d Sale, May 1 (sold for $47 per unit) e. Sale, July 3 (sold for $47 per unit) f. Operating expenses (excluding income tax expense), $18,700 900 17 800 20 Required: 1. Calculate the number and cost of goods available for sale. Number of Goods Available for Sale Cost of Goods Available for Sale 2,000 units $ 37,000 O Type here to search oe ei @

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