Required information 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 168 unita 350 462 units. 54 Ending inventary consisted of 68 units. Mason sold 562 units at $168 each. All purchases and sales were made with cash, Operating expenses amounted to $4,350 Exercise 5-4A (Algo) Part b 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.) Net Income FIFO LIFO Weighied average