Business, 29.02.2020 01:25 Laydax1587

The following information pertains to Mason Company for 2018: Beginning inventory 120 units @ $40 Units purchased 330 units @ $44 Ending inventory consisted of 70 units. Mason sold 380 units at $88 each. All purchases and sales were made with cash. Operating expenses amounted to $3100.A. Compute the gross margin for Mason Company using the following cost flow assumptions:
1) FIFO.2) LIFO.3) Weighted average.
B. What is the amount of net income using FIFO, LIFO, and weighted average?
C. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average.

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The following information pertains to Mason Company for 2018: Beginning inventory 120 units @ $40 Un...

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