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Required information Exercise 5-4A (Aigo) Eifect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5.1 The following information applies to

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Required information Exercise 5-4A (Aigo) Eifect 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 petains to Mason Company for Year 2 Ending inventory consisted of 48 units. Mason sold 462 units at $108 each. All purchases and sales were made with cash. Operating expenses amounted to $3,600. Exercise 5-4A (Algo) Part a Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FFO, (2) LIFO, and (3) weighted average (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount)

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