u XSS News Carwale Health home B2B Marketplace -- ASU HOS M Accounts Help Sav Exercise 5-19 Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-6 The following information applies to the questions displayed below) The following information pertains to Mason Company for 2018: Beginning inventory Units purchased 140 units 320 units @ $20 $22 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. Exercise 5-19 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. (Round "Cost per unit" to 2 decimal places and final answers to nearest whole dollar amount FIFO L IFO Weighted Average Gross margin 3 4 5 of 9 !! Next >