Jared Company uses the perpetual inventory system. The company purchased $4,000 of merchandise from Jonathan Company...

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Jared Company uses the perpetual inventory system. The company purchased $4,000 of merchandise from Jonathan Company under the terms 2/10, net/30. Jared paid for the merchandise within 10 days and also paid $150 freight to obtain the goods under terms FOB Shipping Point. All of the merchandise purchased was sold for $9,000 cash. The amount of gross margin for this merchandise is: $4,930 $ 3.850 $4,000 $4,070 Jared Company uses the perpetual inventory system. The company purchased $4,000 of merchandise from Jonathan Company under the terms 2/10, net/30. Jared paid for the merchandise within 10 days and also paid $150 freight to obtain the goods under terms FOB Shipping Point. All of the merchandise purchased was sold for $9,000 cash. The amount of gross margin for this merchandise is: $4,930 $ 3.850 $4,000 $4,070

Answer rating: 100% (QA)

Sales price 9000 Less Purcha... View the full answer