Question: Compute the weighted average please. What I have is incorrect. Please explain how to get the correct answer! ) The following information pertains to Mason
Compute the weighted average please. What I have is incorrect. Please explain how to get the correct answer!
) The following information pertains to Mason Company for Year 2: Beginning inventory Units purchased 1 32 units @ $ 38 390 units @ $ 57 Ending inventory consisted of 50 units. Mason sold 472 units at $114 each. All purchases and sales were made with cash. Operating expenses amounted to $3,675. 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.) FIFO LIFO Weighted average Gross Margin $ 29,412 | $ 28,462 $ 24,636
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