B Understanding Assessment 2 Saved You received partial credit in the previous attempt. The following information pertains to Mason Company for Year 2: 00:2045 Beginning inventory Units purchased 100 units 310 $70 574 Ending inventory consisted of 70 units. Mason sold 340 units at $148 each. All purchases and sales were made with cash. Operating expenses amounted to $3000. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. b. What is the amount of net income using FIFO, LIFO, and weighted average? (ignore income tax considerations) c. Determine the cash flow from operating activities, using each of the three cost flow assumptions listed in Requirement a. Ignore the effect of income taxes. Complete this question by entering your answers in the tabs below. Required A Required B Required C wash of the three cost an assymptions listed in Requirement a Help Save & Exit Submit View previous attempt