Barton Company uses the perpetual inventory system. The company purchased $13,000 of merchandise from Banks...
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| Barton Company uses the perpetual inventory system. The company purchased $13,000 of merchandise from Banks Company under the terms 2/10, net/30. Barton paid for the merchandise within 10 days and also paid $895 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $18,600 cash. The amount of gross margin for this merchandise is: |
A)$4,705
B)$4,965
C)$13,000
D)$5,600
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