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The following information pertains to Mason Company for Year 2. Beginning inventory Units purchased 160 units @ $52 446 units $78 Ending inventory consisted
The following information pertains to Mason Company for Year 2. Beginning inventory Units purchased 160 units @ $52 446 units $78 Ending inventory consisted of 64 units. Mason sold 542 units at $156 each. All purchases and sales were made with cash. Operating expenses amounted to $4,200. 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.) Gross Margin FIFO LIFO $ 48.438 $ 44,772 Weighted average
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