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Novak Corp. began the year with 8 units of marine floats at a cost of...

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Novak 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) Your answer has been saved and sent for grading. See Gradebook for score details. Determine the cost of goods sold under FIFO. FIFO 842 Cost of good sold $ Click if you would like to Show Work for this question: Open Show Work Attempts: 1 of 1 used (b) Determine the cost of goods sold under LIFO. LIFO Cost of good sold $ Click if you would like to Show Work for this question: Open Show Work

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