The following information pertains to Mason Company for Year $2$:

Beginning inventory $150$ units @ $$40$

Units purchased $420$ units @ $$43$

Ending inventory consisted of $100$ units. Mason sold $470$ units at $$86$ each. All purchases and sales were made with cash. Operating expenses amounted to $$3,300.$

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.