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[The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2: Beginning inventory 152 units @ $
[The following information applies to the questions displayed below.]
The following information pertains to Mason Company for Year 2: Beginning inventory 152 units @ $ 48 Units purchased 430 units @ $ 72
Ending inventory consisted of 60 units. Mason sold 522 units at $144 each. All purchases and sales were made with cash. Operating expenses amounted to $4,050.
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.)
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