Assume Orlon Iron applies Its Inventory costing method perpetually at the time of each sale. At the end annual accounting perlod, December 31, the accounting records provided the following Information: Transactions Units Unit Cost 3, е $12 a. Inventory, Beginning For the year: 9,000 10 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) f. Operating expenses (excluding income tax expense), $195,e00 13 8,000 3,000 6, 000

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