Question 8 of 14 0.5/1 E View Policies Show Attempt History Current Attempt in Progress Coronado 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, 27 unit at $15: July 16, 20 units at $20; and December 7, 25 units at $23. Assume there are 30 units on hand at the end of the period. Coronado uses the periodic approach (a) Your answer is correct Determine the cost of goods sold under FIFO. FIFO Cast of good sold eTextbook and Media Attempts: 2 of 3 used (b Your answer is correct. Determine the cost of goods sold under LIFO. LIFO Cost of good sold eTextbook and Media Attempts: 1 of used (1) Calculate average unit cost (Round answer to 2 decimal places, 85.12.) Average cost e Textbook and Media Save for Attemptsiooned