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Assume Beta Company uses the perpetual inventory method and engaged in the following transactions: 1) Purchased $15,000 of merchandise on account under terms 2/10, n/30
Assume Beta Company uses the perpetual inventory method and engaged in the following transactions: 1) Purchased $15,000 of merchandise on account under terms 2/10, n/30 2) Returned $1,500 (list price) of merchandise to the supplier before payment was made 3) Paid the account payable within the discount period. 4) Sold the merchandise for $19,500 cash. The amount of gross margin from the four transactions is Multiple Choice $4,500 $4,230 $6,270 $6,300
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