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: Beginning inventory Units purchased Ending inventory consisted of 64 units. Mason sold 542 units at $156 each. All purchases and sales were made with cash. Operating expenses amounted to $4,200. Exercise 5-4A (Algo) Part a 160 units @ $52 446 units @ $78 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. FIFO LIFO Weighted average Gross Margin

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: Beginning inventory Units purchased 160units0552446units578 Ending inventory consisted of 64 units. Mason sold 542 units at $156 each. All purchases and sales were made with cash. Operating expenses amounted to $4,200. 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