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Determine the cash flow from operating activities

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Reference no: EM133187777

Question - The following information pertains to Mason Company for Year 2:

Beginning inventory 90 units @ $80

Units purchased 300 units @ $85

Ending inventory consisted of 50 units. Mason sold 340 units at $170 each. All purchases and sales were made with cash. Operating expenses amounted to $2800.

Required -

a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average.

b. What is the amount of net income using FIFO, LIFO, and weighted average?

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.

Reference no: EM133187777

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