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Barney Company uses the perpetual inventory system. The company purchased $4,000 of merchandise from Britain Company under the terms 2/10, net/30. Barney paid for the merchandise within 10 days and also paid $250 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $9,000 cash. what the amount of gross margin for this merchandise is:

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Accounting Basics, Accounting

Category:- Accounting Basics
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