Part of
Required information
Exercise A Algo Effect of inventory cost flow FIFO LIFO, and weighted average on gross margin LO
The following information applies to the questions displayed below.
The following information pertains to Mason Company for Year :
Beginning inventory
Units purchased
units @ $
units @ $
Ending inventory consisted of units. Mason sold units at $ each. All purchases and sales were made with cash. Operating expenses amounted to $
Exercise A Algo Part a
Required
a Compute the gross margin for Mason Company using the following cost flow assumptions: FIFO, LIFO, and weighted average.
Note: Round cost per unit to decimal places and final answers to the nearest whole dollar amount.
tableGross MarginFIFOLIFOWeighted average,
