d es Required information [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2: 108 units @ $26 342 units @ $39 Beginning inventory Units purchased Ending inventory consisted of 38 units. Mason sold 412 units at $78 each. All purchases and sales were made with cash. Operating expenses amounted to $3,225. c. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average. Note: Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount. FIFO LIFO Weighted average Ending Inventory
d es Required information [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2: 108 units @ $26 342 units @ $39 Beginning inventory Units purchased Ending inventory consisted of 38 units. Mason sold 412 units at $78 each. All purchases and sales were made with cash. Operating expenses amounted to $3,225. c. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average. Note: Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount. FIFO LIFO Weighted average Ending Inventory
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku
![3
d
tes
Required information
[The following information applies to the questions displayed below.]
The following information pertains to Mason Company for Year 2:
108 units @ $26
342 units @ $39
Beginning inventory
Units purchased
Ending inventory consisted of 38 units. Mason sold 412 units at $78 each. All purchases and sales were made with
cash. Operating expenses amounted to $3,225.
c. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average.
Note: Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.
FIFO
LIFO
Weighted average
Ending Inventory](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0c41a864-51cb-43b6-b9fc-ba5644a94a83%2F91678b0b-23d4-4b39-b542-a56361f2f174%2Fnqy86m_processed.png&w=3840&q=75)
Transcribed Image Text:3
d
tes
Required information
[The following information applies to the questions displayed below.]
The following information pertains to Mason Company for Year 2:
108 units @ $26
342 units @ $39
Beginning inventory
Units purchased
Ending inventory consisted of 38 units. Mason sold 412 units at $78 each. All purchases and sales were made with
cash. Operating expenses amounted to $3,225.
c. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average.
Note: Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.
FIFO
LIFO
Weighted average
Ending Inventory
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