Ballard Company uses the perpetual inventory system. The company purchased $8,800 of merchandise from Andes...
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Ballard Company uses the perpetual inventory system. The company purchased $8,800 of merchandise from Andes Company under the terms 2/10, net/30. Ballard paid for the merchandise within 10 days and also paid $330 freight to obtain the goods under terms FOB shipping point. Alt of the merchandise purchased was sold for $16,600 cash. The amount of gross margin for this merchandise is: Multiple Choice $7,646. $7,800
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