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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 Units
Required Information [The following Information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Beginning inventory Units purchased 108 units @ $26 342 units @ $39 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. 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.) FIFO LIFO Weighted average Net Income
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