Concord Marine Products began the year with 9 units of marine floats at a cost of $10 each. During the year, it made the following purchases: May 5, 29 units at $17; July 16, 19 units at $20; and December 7, 24 units at $24. Assume there are 33 units on hand at the end of the period. Concord uses the periodic system.
(a) Determine the cost of goods sold under FIFO.