$3$

$!$

Part $1$ of $3$

Required information

$[$The following information applies to the questions displayed below.$]$

The following information pertains to Mason Company for Year $2.$

$10$

points

eBook

Beginning inventory

$124$ units @ $$34$

$374$ units @ $$51$

Units purchased

Ending inventory consisted of $46$ units. Mason sold $452$ units at $$102$ each. All purchases and sales were made with cash. Operating expenses amounted to $$3,525.$

References

Required

a$.$ Compute the gross margin for Mason Company using the following cost flow assumptions: $(1)$ FIFO, $(2)$ LIFO, and $(3)$ weighted average. $($Round cost per unit to $3$ decimal places and final answers to the nearest whole dollar amount.$)$

$\backslash$table$[[,$Gross Margin$],[$FIFO$],[$LIFO$,],[$Weighted average,$]]$