X Company paid $2,000 cash to purchase inventory. This inventory was sold for $3,000 on account....

 

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X Company paid $2,000 cash to purchase inventory. This inventory was sold for $3,000 on account. The amount of gross margin reported on the income statement and the amount of net cash flow from operating activities reported on the statement of cash flows would be Multiple Choice O $3,000 / $(2,000). $1,000 / $3,000. O $1,000 / $(2,000). $0 / $1,000. X Company paid $2,000 cash to purchase inventory. This inventory was sold for $3,000 on account. The amount of gross margin reported on the income statement and the amount of net cash flow from operating activities reported on the statement of cash flows would be Multiple Choice O $3,000 / $(2,000). $1,000 / $3,000. O $1,000 / $(2,000). $0 / $1,000.

Answer rating: 100% (QA)

Answer Correct answer is c ie 1000 2000 Explanation Cal... View the full answer