Campute cost of goods sold using FIFO BE65 LO 2 AP Sunn.pdf

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Campute cost of goods sold using FIFO. BE6.5 (LO 2), AP Sunnyside Marine Products began the year with 10 units of marine floats at a cost LIFO, and average-cost of $11 each. During the year, it made the following purchases: May 5, 30 units at $16; July 16, 15 units at $19; and December 7,20 units at $23. 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. Sunnyside uses the periodic approach,.

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