Sandhill Marine Products began the year with 10 units of marine floats at a cost of $15.80 each. During the year, it made the following purchases: May 5, 30 units at $23.20; July 16, 15 units at $28.60; and December 7, 20 units at $35.00. Assuming there are 25 units on hand at the end of the period, determine the cost of goods sold under (a) FIFO, (b) LIFO, and (c) average-cost. Sandhill uses the periodic approach.

Cost of Goods Sold

FIFO

$enter cost of goods sold under First In First Out in dollars

LIFO

$enter cost of goods sold under Last In First Out in dollars

Average-cost

$enter cost of goods sold under Average-cost in dollars

Current Attempt in Progress Sandhill Marine Products began the year with 10 units of marine floats at a cost of $15.80 each. During the year it made the following purchives May 5, 30 units at $23.20. July 16, 15 units at $28.60, and December 7, 20 units at $35.00 Asurning there are 25 units on hand at the end of the period determine the cost of goods sold under . FIFO CLIFO, and fel average cout. Sandhill uses the periode approach Cost of Goods Sold FIFO UFO $ Average cost $ Attempts of 10 used SA

Question

Sandhill Marine Products began the year with 10 units of marine floats at a cost of $15.80 each. During the year, it made the following purchases: May 5, 30 units at $23.20; July 16, 15 units at $28.60; and December 7, 20 units at $35.00. Assuming there are 25 units on hand at the end of the period, determine the cost of goods sold under (a) FIFO, (b) LIFO, and (c) average-cost. Sandhill uses the periodic approach.

		Cost of Goods Sold
FIFO		$enter cost of goods sold under First In First Out in dollars
LIFO		$enter cost of goods sold under Last In First Out in dollars
Average-cost		$enter cost of goods sold under Average-cost in dollars

Current Attempt in Progress Sandhill Marine Products began the year with 10 units of marine floats at a cost of $15.80 each. During the year it made the following purchives May 5, 30 units at $23.20. July 16, 15 units at $28.60, and December 7, 20 units at $35.00 Asurning there are 25 units on hand at the end of the period determine the cost of goods sold under . FIFO CLIFO, and fel average cout. Sandhill uses the periode approach Cost of Goods Sold FIFO UFO $ Average cost $ Attempts of 10 used SA

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Sandhill Marine Products began the year with 10 units of marine floats at a cost of $ 15.80 each. During the year, it made the

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