Question
[The following information applies to the questions displayed below.] The following information pertains to Mason Company for 2016: Beginning inventory 144 units @ $ 44
[The following information applies to the questions displayed below.] The following information pertains to Mason Company for 2016: Beginning inventory 144 units @ $ 44 Units purchased 414 units @ $ 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. 3.value: 3.00 pointsRequired information 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.)
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