Kingbird, Inc. began the year with 10 units of marine floats at a cost of $11 each. During the year, it made the following purchases: May 5, 35 unit at $17: July 16, 15 units at $21; and December 7, 20 units at $25. Assume there are 25 units on hand at the end of the period. Kingbird uses the periodic approach EVE Determine the cost of goods sold under FIFO. FIFO $ Cost of good sold 915 e Textbook and Media Your answer is correct. Determine the cost of goods sold under LIFO. LIFO Cost of good sold $ 1155 Type here to search o HE Ch. 6 Homework Jestion 4 of 7 1.5/3 III x Your answer is incorrect. Calculate average unit cost. (Round answer to 2 decimal places, eg, 5.12.) $ 1045 Average unit cost e Textbook and Media X Your answer is incorrect. Determine the cost of goods sold under average-cost. Average-Cost 19.00 Cost of good sold Type here to search O EH MIS