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Crane Marine Products began the year with 10 units of marine floats at a cost...

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Accounting

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Crane Marine Products began the year with 10 units of marine floats at a cost of $15,00 each. During the year, it made the following purchases: May 5, 30 units at $22.00; July 16, 15 units at $27.00; and December 7,20 units at $33.00. 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. Crane uses the periodic approach

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