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Coronado Industries began the year with 12 units of marine floats at a cost of $11 each. During the year, it made the following purchases:
Coronado Industries began the year with 12 units of marine floats at a cost of $11 each. During the year, it made the following purchases: May 5,27 unit at $15; July 16, 20 units at $20; and December 7,25 units at $23. Assume there are 30 units on hand at the end of the period. Coronado uses the periodic approach. Determine the cost of goods sold under FIFO. Determine the cost of goods sold under LIFO. Calculate average unit cost. (Round answer to 2 decimal places, eg. 5.12.) Average unit cost $ Determine the cost of goods sold under average-cost
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