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The following information pertains to Mason Company for Year 2 : Beginning inventory 1 2 8 units @ $ 3 6 Units purchased 3 8

The following information pertains to Mason Company for Year 2:
Beginning inventory 128 units @ $36
Units purchased 382 units @ $54
Ending inventory consisted of 48 units. Mason sold 462 units at $108 each. All purchases and sales were made with cash. Operating expenses amounted to $3,600.
Exercise 5-4A (Algo) Part a
Required
a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average.

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