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Exercise 5-4A (Algo) Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Ending inventory consisted of 52 units. Mason sold 482 units at $120 each. All purchases and sales were made with cash. Operating expenses amounted to $3,750. 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. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.) Required information Exercise 5-4A (Algo) Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2 . Ending inventory consisted of 52 units. Mason sold 482 units at $120 each. All purchases and sales were made with cash. Operating expenses amounted to $3,750. Exercise 5-4A (Algo) Part b b. What is the amount of net income using FIFO, LIFO, and weighted average? (lgnore income tax considerations.) (Round cost per unit to 3 decimal places and other intermediate answers and final answers to the nearest whole dollar amount.) Required information Exercise 5-4A (Algo) Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Ending inventory consisted of 52 units. Mason sold 482 units at $120 each. All purchases and sales were made with cash. Operating expenses amounted to $3,750. Exercise 5-4A (Algo) Part C c. Compute the amount of ending inventory using (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.)