FIFO: 695

LIFO: 943

Question 4 Swifty Corporation began the year with 9 units of marine floats at a cost of $10 each. During the year, it made the following purchases: May 5, 26 unit at $16; July 16, 17 units at $21; and December 7, 22 units at $23. Assume there are 30 units on hand at the end of the period. Swifty uses the periodic approach. (a) (b) (c1) Calculate average unit cost. (Round answer to 2 decimal places, e.g. 5.12.) Average unit cost $ Click if you would like to Show Work for this question: Open Show Work