Exercise 5-4A (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 32 units. Mason sold 382 units at $60 each. All purchases and sales were made with cash. Operating expenses amounted to $3,000. Exercise 5-4A (Algo) Part a Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. Note: Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount