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The following information pertains to Mason Company for Year 2: Beginning inventory Units purchased 130 units 400 units $50 $52 @ Ending inventory consisted of 90 units. Mason sold 440 units at $104 each. All purchases and sales were made with cash. Operating expenses amounted to $3000. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted b. What is the amount of net income using FIFO, LIFO, and weighted average? (Ignore income tax considerations.) c. Determine the cash flow from operating activities, using each of the three cost flow assumptions listed in Requirement a. ignore the effect of income taxes. average. Complete this question by entering your answers in the tabs below. Required A Required B Required Determine the cash flow from operating activities, using each of the three cost flow assumptions listed in Requirement a. Ignore the effect of income taxes. (Enter cash outflows with a minus sign.) FIFO LIFO Weighted Average Cash flows from operating activities Cash inflow from customers Cash outflow for inventory and expense Net cash flow from operating activities a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO(2) LIFO, and (3) weigh average: b. What is the amount of net income using FIFO, LIFO, and weighted average? (ignore income tax considerations.) c. Determine the cash flow from operating activities, using each of the three cost flow assumptions listed in Requirement als effect of income taxes. Complete this question by entering your answers in the tabs below. Required A Required Required C Required B What is the amount of net income using FIFO, LIFO, and weighted average? (Ignore Income tax considerations.) (Round "Cost per unit to 2 decimal places and final answers to the nearest whole dollar.) Weighted LIFO Average FIFO Net income

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