outstanding. Gracey's also has $600,000 of common stock outstanding. During its first year, the company paid cash dividends of $30,000. This dividend should be distributed as follows $6,000 preferred; $24,000 common. S0 preferred; $30,000 common. O$12,000 preferred; $18,000 common. $30,000 preferred; $0 common. $15,000 common. QUESTION 3 Mason Company has the following per unit original costs and replacement costs for its inventory. The company applies LCM to individual items of product: Part A: 20 units with a cost of $3 and replacement cost of $3.50 Part B: 30 units with a cost of $9 and replacement cost of $8.50 Part C: 60 units with a cost of $8 and replacement cost of $7.00 When applying the lower of cost or market method, the total value of this company's ending inventory must be reported as: $75.00. $1,545.00 $735.00. $810.00. $745.00 QUESTION 4 3 poin Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 20