Please help me solve it. Solve accordingly in table form, just as in the questio

Question

  

Please help me solve it. Solve accordingly in table form, just as in the question for easy understanding. Thanks.

(Question 6i)

(Question 6ii)

Required information [The following information applies to the questions displayed below. The following information pertains to Mason Company for 2018: Beginning inventory Units purchased 140 units $40 290 units$45 Ending inventory consisted of 60 units. Mason sold 370 units at $90 each. All purchases and sales were made with cash. Operating expenses amounted to $4100. 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 2 decimal places and final answers to nearest whole dollar amount.) FIFO | LIFO |Weighted Average Gross margin

Explanation / Answer

Required 1. Gross Margin For different methods

Calculation of opertion expenses

1. FIFO

2. LIFO

3. Weighted Average

Gross Margin

Required 2 Cash Flow

Amount Cost per unit 140 units @ 40 per unit 5600 230 units @ 45 per unit 10350 Cost per unit 15950 Other Operations expense 4100 Total Operating expense as per FIFO 20050

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