Exercise 5-19A (Algo) Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-6 The following information pertains to Mason Company for Year 2: Beginning inventory Units purchased 140 units 290 units @ $40 @ $45 Ending Inventory consisted of 60 units. Mason sold 370 units at $90 each. All purchases and sales were made with cash. Operating expenses amounted to $4100 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 Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) Required . Compute the gross margin for Mason Company using the following average. . What is the amount of net income using FIFO, LIFO, and weighted c. Determine the cash flow from operating activities, using each of th effect of income taxes. Complete this question by entering your answers in the tabs be Required A Required B Required C Compute the gross margin for Mason Company using the following cost fi weighted average. (Round "Cost per unit" to 2 decimal places and final ar FIFO LIFO Weighted Average Gross margin Recured Requi required - Compute the gross margin for Mason Company using average. . What is the amount of net income using FIFO, LIFO, an . Determine the cash flow from operating activities, usin effect of income taxes. Complete this question by entering your answers in Required A Required B Required C What is the amount of net income using FIFO, LIFO, an! per unit" to 2 decimal places and final answers to the neares we FIFO LIFO Weighted Average Net income