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Required information Exercise 5-19 Effect of inventory cost flow (FIFO, LIFo, and weighted average) on gross margin LO 5-6 [The following information applies to the
Required information Exercise 5-19 Effect of inventory cost flow (FIFO, LIFo, and weighted average) on gross margin LO 5-6 [The following information applies to the questions displayed below.] The following information pertains to Mason Company for 2018: Beginning inventory Units purchased 140 units $60 430 units $62 Ending inventory consisted of 60 units. Mason sold 510 units at $124 each. All purchases and sales were made with cash. Operating expenses amounted to $3700. Exercise 5-19 Part c 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. (Amounts to be deducted should be indicated with a minus sign.) Weighted Average FIFO LIFO Cash flows from operating activities Cash inflow from customers Cash Outflow for Inventory and expense Net cash flow from operating activities
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