The following information pertains to Mason Company for Year 2: Beginning inventory 120 units @ $80 Units purchased 330 units @ $84 Ending inventory consisted of 50 units. Mason sold 400 units at $168 each. All purchases and sales were made with cash. Operating expenses amounted to $3,200. Required Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. What is the amount of net income using FIFO, LIFO, and weighted average? (Ignore income tax considerations.) Determine the cash flow from operating activities, using each of the three cost flow assumptions listed in Requirement a. Ignore the effect of income taxes.

What is the amount of net income using FIFO, LIFO, and w Note: Round "Cost per unit" to 2 decimal places and final a \begin{tabular}{|l|l|l|l|} \hline & FIFO & LIFO & \begin{tabular}{c} Weighted \\ Average \end{tabular} \\ \hline Cash flows from operating activities & & & \\ \hline Cash inflow from customers & & & \\ \hline Cash outflow for inventory and expense & & & \\ \hline Net cash flow from operating activities & & & \\ \hline \end{tabular} Compute the gross margin for Mason Company using weighted average. Note: Round "Cost per unit" to 2 decimal places and f