Exercise $5-4$A $($Algo$)$ 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 $2$:

Ending inventory consisted of $36$ units. Mason sold $402$ units at $$72$ each. All purchases and sales were made with cash.

Operating expenses amounted to $$3,150.$

Exercise $5-4$A $($Algo$)$ Part b

b$.$ What is the amount of net income using FIFO, LIFO, and weighted average? $($Ignore income tax considerations.$)$

Note: Round cost per unit to $3$ decimal places and other intermediate answers and final answers to the nearest whole dollar

amount.