Suppose Juliet Company is a retailer that purchased four identical pieces of art in the first four months in 2022. The company sells one of the pieces to a customer in May 2022 for $500. What would be the gross margin (Revenue- Cost of good sold) for that transaction if the company accounted for inventory under FIFO? Juliet Company Acquisition Date Purchase Price January 15, 2022 $100 February 15, 2022 $125 March 10, 2022 $130 April 20, 2022 $142