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Required information

$[$The following information applies to the questions displayed below.$]$

The following information pertains to Mason Company for Year $2.$

Beginning inventory

$168$ units @ $$56.$

Units purchased

units @ $$84$

Ending inventory 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.$

Required

a$.$ Compute the gross margin for Mason Company using the following cost flow assumtotions: $(1)$ FIFO, $(2)$ 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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