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Required information Skip to question [The following information applies to the questions displayed below.] The following information pertains to Mason Company for 2016: Beginning inventory
Required information Skip to question [The following information applies to the questions displayed below.] The following information pertains to Mason Company for 2016: Beginning inventory 90 units @ $ 40 Units purchased 310 units @ $ 45 Ending inventory consisted of 30 units. Mason sold 370 units at $90 each. All purchases and sales were made with cash. Operating expenses amounted to $4,100. 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 final answers to the nearest whole dollar amount.)
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