Required information Skip to question [The following information applies to the questions displayed below.] The...
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Required information Skip to question [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Beginning inventory 90 units @ $40 Units purchased 310 units @ $45 Ending inventory consisted of 30 units. Mason sold 370 units at $90 each. All purchases and sales were made with cash. Operating expenses amounted to $4,100. 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.)
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