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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
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 144 units 44 414 unita 66 Ending inventory consisted of 56 units. Mason sold 502 units at $132 each. All purchases and sales were made with cash Operating expenses amounted to $3,900. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: () 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 Ma FIFO LIFO Weighted average
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