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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: Ending inventory consisted of
Required information [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2: Ending inventory consisted of 38 units. Mason sold 412 units at $78 each. All purchases and sales were made with cash. Operating expenses amounted to $3,225. c. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average. Note: Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount
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