Ballard Company uses the perpetual inventory system. The company purchased $9,400 of merchandise from Andes Company under the terms 4/10, net/30. Ballard paid for the merchandise within 10 days and also paid $390 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $17,800 cash. What is the gross margin that resulted from these transactions? Multiple Choice $8,010. $9,400. $8,386. $8,400.

Answer rating: 100% (QA)

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