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answer to this [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Ending inventory consisted
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[The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Ending inventory consisted of 52 units. Mason sold 482 units at $120 each. All purchases and sales were made with cash. Operating expenses amounted to $3,750. b. What is the amount of net income using FIFO, LIFO, and weighted average? (Ignore income tax considerations.) (Round cost per unit to 3 decimal places and other intermediate answers and final answers to the nearest whole dollar amount.) Step by Step Solution
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