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Business, 30.10.2020 17:40 brooklyn4932

Assume the perpetual inventory method is used. 1) The company purchased $12,200 of merchandise on account under terms 2/10, n/30.2) The company returned $1,700 of merchandise to the supplier before payment was made.3) The liability was paid within the discount period.4) All of the merchandise purchased was sold for $18,400 cash. The amount of gross margin from the four transactions is:

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Assume the perpetual inventory method is used. 1) The company purchased $12,200 of merchandise on ac...
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