The following information pertains to Mason Company for Year 2 : Ending inventory consisted of 60 units. Mason sold 400 units at $44 each. All purchases and sales were made with cash, Operating expenses amounted to $3500. Required a. Compute the gross margin for Mason Compeny using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. b. What is the amount of net income using FFF, LFO, and weighted average? (Ggnore income tax considerations) c. Determine the cash flow from operating activities, using each of the three cost flow assumptions listed in Requirement a. Ignore the effect of income tases. Complete this question by entering your answers in the tabs below. Compute the gross margin for Mason Company using the following cont flow asrumptions: (1) FiFO, (2) UFO, and (3) welghted average. (flound "Cost per unit" to 2 decimal places and final answers to nearest whole doliar amount.) The following information pertains to Mason Company for Yeat 2: Ending inventory consisted of 60 units. Mason sold 400 units at $44 each. All purchases and saies were made with cash. Operating expenses amounted to $3500. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FFO, (2) LFO, and (3) weighted average. b. What is the amount of net income using FIFO, LFO, and weighted average? (lgnere income tax considerations.) c. Dotermine the cash flow from operating activities, using each of the three cost fow assumptions listed in Requirement a. Ignore the effect of income taxes. Complete this question by entering your answers in the tabs below. What is the amount of net income using FIFO, UFO, and weighted average? (Ignore income tax considerations.) (Round "Cost per unit' to 2 decimal pleces and final answers to the nearest whole dollaz.) The following information pertains to Mason Company for Year 2: Ending inventory consisted of 60 units. Mason sold 400 units at $44 each. All purchases and salos were mede with cash, Operating expenses amounted to $3500 Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FFO, (2) LFO, and (3) weighted average: b. What is the amount of net income using FIFO, LIFO, and weighted average? (lgnore income tax considerations) c. 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. Complete this question by entering your answers in the tabs below. 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. (Enter cash outfows with a minus sign-)
