Metlock, Inc. began the year with 11 units of marine floats at a cost of $12 each. During the year, it made the following purchases: May 5,32 unit at $17; July 16, 16 units at $20; and December 7, 21 units at $24. Assume there are 24 units on hand at the end of the period. Metlock uses the periodic approach. (a) Your answer is correct. Determine the cost of goods sold under FIFO. (b) Cost of good sold eTextbook and Media Your answer is correct. FIFO 936 Determine the cost of goods sold under LIFO. LIFO Attempts: 1 of 8 used