Ending inventory consisted of 68 units. Mason sold 562 units at $168 each. All purchases and sales were made with cash. Operating expenses amounted to $4,350.

Req uired information Exercise 5-4A Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 [The following information applies to the questions displayed below. ] The following information pertains to Mason Company for Year 2: Beginning inventory 168 units 8 $ 56 Units purchased 462 units 6 $ 84 Ending inventory consisted of 68 units Mason sold 562 units at $168 each. All purchases and sales were made with cash. Operating expenses amounted to $4,350. \\ Exercise 5-4A Part a Required 3. 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 nal answers to the nearest whole dollar amount.) Fl FO LIFO Weighted average