I got everything correct but number 4 Income statement Pleas

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 200 $12 a. Inventory, Beginning For the year b. Purchase, April 11 c Purchase, June 1 d Sale, May 1 (sold for $45 per unit) e Sale, July 3 (sold for $45 per unit) t Operating expenses (excluding income tax expense) $16 000 600 10 450 13 200 400 Required: 1. Calculate the number and cost of goods available for sale Answer is complete and correct. Number of Goods Available for1250units Sale Cost of Goods Available for Sale 14 250

Solution

Prepare income statement :

	FIFO	LIFO	Weighted average
Sales revenue	27000	27000	27000
Cost of goods sold	6400	7350	6840
Gross profit	20600	19650	20160
Operating expense	16000	16000	16000
Income (loss) From operation	4600	3650	4160