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Posted: **Sun Jun 05, 2022 8:14 pm**

: 3 08 01 T Required Information Exercise 5 4a Algo Effect Of Inventory Cost Flow Fifo Lifo And Weighted Average On 1 (37.61 KiB) Viewed 48 times

: 3 08 01 T Required Information Exercise 5 4a Algo Effect Of Inventory Cost Flow Fifo Lifo And Weighted Average On 2 (34.56 KiB) Viewed 48 times

: 3 08 01 T Required Information Exercise 5 4a Algo Effect Of Inventory Cost Flow Fifo Lifo And Weighted Average On 3 (33.2 KiB) Viewed 48 times

3 08:01 t 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 148 units@ $46 422 units @ $69 Ending inventory consisted of 58 units. Mason sold 512 units at $138 each. All purchases and sales were made with cash. Operating expenses amounted to $3,975. Exercise 5-4A (Algo) Part a 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.) Gross Margin FIFO LIFO Weighted average
40 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 148 units @ $ 46 422 units @ $69 Ending inventory consisted of 58 units Mason sold 512 units at $138 each. All purchases and sales were made with cash. Operating expenses amounted to $3,975. Exercise 5-4A (Algo) Part b b. What is the amount of net income using FIFO, LIFO, and weighted average? (ignore income tax considerations.) (Round cost per unit to 3 decimal places and other intermediate answers and final answers to the nearest whole dollar amount.) Net Income FIFO LIFO Weighted average < Prev 3 4 of 9 # Next >
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 148 units @ $ 46 422 units $69 Ending inventory consisted of 58 units. Mason sold 512 units at $138 each. All purchases and sales were made with cash. Operating expenses amounted to $3,975. Exercise 5-4A (Algo) Part c c. Compute the amount of ending inventory using (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.) Ending Inventory FIFO LIFO Weighted average