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The following information pertains to Mason Company for Year 2:
Beginning inventory
124
units
@
$
34
Units purchased
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.
Requireda. 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.)
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