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he following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Beginning inventory 120 units @ $32
he following information applies to the questions displayed below.]
The following information pertains to Mason Company for Year 2.
Beginning inventory | 120 units @ $32 |
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Units purchased | 366 units @ $48 |
Ending inventory consisted of 44 units. Mason sold 442 units at $96 each. All purchases and sales were made with cash. Operating expenses amounted to $3,450.
b. What is the amount of net income using FIFO, LIFO, and weighted average? (Ignore income tax considerations.) (Round cost per unit to 3 decimal places and other intermediate answers and final answers to the nearest whole dollar amount.)
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