Required information Exercise 5-4A 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 128 units @ $ 36 382 units @ $54 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 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 Weighted average