Cost of goods sold under average-cost

.html?launchid=399cc49e-b063-4345-6479-1550310ad74e#/question/7 assignment Question 8 of 8 -/49 MIT View Policies Current Attempt in Progress Bonita 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. 31 unit at $15: July 16, 16 units at $20; and December 7.21 units at $23. Assume there are 26 units on hand at the end of the period. Bonita uses the periodic approach. Determine the cost of goods sold under FIFO. FIFO $ Cost of good sold Determine the cost of goods sold under LIFO. LIFO Cost of good sold