RST Co. sold for $5,000 inventory that had cost $3,000.  Freight terms for the sale were FOB destination and payment terms were 1/10, n/30.  RST paid freight costs of $200 in cash.  The receivable was collected within the discount period.  Based on this information alone, the amount of gross margin would be?

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To calculate the gross margin we need to determine the revenue ... View the full answer