Saved auto Required Information Exercise 5-4A Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 (The following information applies to the questions displayed below) The following information pertains to Mason Company for Year 2 Beginning inventory Units purehased 112 units 350 unite 4 Ending Inventory consisted of 40 units. Mason sold 422 units at $84 cach, All purchases and sales were made with cash Operating expenses amounted to $3,300. Exercise 5-4A Part a Required - Compute the gross margin for Mason Company using the following cost flow assumptions:(0) FIFO (2) LIFO, and average. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.) weighted Gross Margir FIFO LIFO Weighted average Saved Required information Exercise 5-4A Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 The following information applies to the questions displayed below.) The following information pertains to Mason Company for Year 2: Beginning Inventory Units purchased 112 units 350 units $28 $42 Ending inventory consisted of 40 units. Moson sold 422 units at $84 cach. All purchases and sales were made with cash. Operating expenses amounted to $3,300. Exercise 5-4A Part b b. What is the amount of net income using FIFO, LIFO, and weighted average? donore income tax considerations (Round cost per unit to 3 decimal places and other intermediate answers and final answers to the nearest whole dollar amount.) Net Income LIFO Weed average 4 7 Next > Updates No Some update automatically Saved Required information Exercise 5-4A Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 (The following information applies to the questions displayed below! The following information pertains to Mason Company for Year 2: Beginning inventory Unita purchased 112 units 28 350 units @ $ 42 Ending inventory consisted of 40 units. Mason sold 422 units at $84 each. All purchases and sales were made with cash Operating expenses amounted to $3,300. Exercise 5-4A Part c nces c. Compute the amount of ending inventory using (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.) Ending Inventory FIFO Weighted average