Required information Exercise 5-19 Effect of inventory cost flow (FIFO, LIFO, an

Question

Required information Exercise 5-19 Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-6 The following information applies to the questions displayed below. The following information pertains to Mason Company for 2018: Beginning inventory Units purchased 150 units70 410 units $73 Ending inventory consisted of 100 units. Mason sold 460 units at $146 each. All purchases and sales were made with cash. Operating expenses amounted to $2700. Exercise 5-19 Part c 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. (Amounts to be deducted should be indicated with a minus sign.)

Explanation / Answer

FIFO LIFO Weighted average Cash flows from operating activities Cash inflow from customers 67160 67160 67160 Cash outflow for inventory and expenses -32630 -32630 -32630 Net Cash flows from operating activities 34530 34530 34530

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