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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 purchased

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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 purchased 172 units @ $ 58 470 units @ $ 87 Ending inventory consisted of 70 units. Mason sold 572 units at $174 each. All purchases and sales were made with cash Operating expenses amounted to $4,425 Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (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.) Gross Margin FIFO LIFO Weighted average

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