??

Return to question 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: Beginning Inventory Units purchased 116 units @ $ 30 358 units @ $ 45 Ending inventory consisted of 42 units. Mason sold 432 units at $90 each. All purchases and sales were made with cash Operating expenses amounted to $3,375 Exercise 5-4A (Algo) Parta Exercise 5-4A (Algo) Part a rt 1 of 3 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.) ats Answer is complete but not entirely correct. FIFO LIFO Weighted average Gross Margin S 1.890 % $ 1.260 $147 587