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The following information pertains to Mason Company for Year 2. Beginning inventory 152 units @ $48 Units purchased 430 units @ $72 Ending inventory consisted

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.

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.)

image text in transcribed

\begin{tabular}{|l|l|} \hline & Gross Margin \\ \hline FIFO & \\ \hline LIFO & \\ \hline Weighted average & \\ \hline \end{tabular}

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