Assume the following information for a merchandising company: Number of units sold 20,000 Selling price per unit $30 Variable selling expense per unit $3 Variable administrative expense per unit$2 Fixed administrative expenses $50,000 Beginning merchandise inventory $24,000 Ending merchandise inventory $19,000 Merchandise purchases $340,000 What is the gross margin? O $155,000 O $260,000 O $255,000 O $265,000