a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO...

Transcribed Image Text:

a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO (2) LIFO and (3) weighted average b. What is the amount of net income using FIFO, LIFO, and weighted average? (Ignore income tax considerations.) c. 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C 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. Note: Enter cash outflows with a minus sign. Cash flows from operating activities Cash inflow from customers Cash outflow for inventory and expense Net cash flow from operating activities FIFO LIFO Weighted Average $24,380 $24,380 $ 24,380 < Required B Required C a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO (2) LIFO and (3) weighted average b. What is the amount of net income using FIFO, LIFO, and weighted average? (Ignore income tax considerations.) c. 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C 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. Note: Enter cash outflows with a minus sign. Cash flows from operating activities Cash inflow from customers Cash outflow for inventory and expense Net cash flow from operating activities FIFO LIFO Weighted Average $24,380 $24,380 $ 24,380 < Required B Required C