ovak Corp. began the year with 8 units of marine floats at a cost of $11 each. During the year, it made the following purchases: May 5, 34 unit at $16; July 16, 17 units at $21; and December 7, 22 units at $25. Assume there are 29 units on hand at the end of the period. Novak uses the periodic approach.

(a)

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Determine the cost of goods sold under FIFO.

		FIFO
Cost of good sold		$Type your answer here 842

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(b)

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Determine the cost of goods sold under LIFO.

		LIFO
Cost of good sold		$Type your answer here 1115

(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 Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER (c2) The parts of this question must be completed in order. This part will be available when you complete the part above