Required information Exercise 5-4A 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: Beginning inventory Units purchased 124 units @ $ 34 374 units @ $51 Ending Inventory consisted of 46 units. Mason sold 452 units at $102 each. All purchases and sales were made with cash. Operating expenses amounted to $3,525. Exercise 5-4A Part a Required a. Compute the gross morgin 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.) rose Margin $ 21,635 FIFO LIFO Weighted average