Assume the retailer started the year with a beginning inventory of one lamp, which had an invoice cost of $500. During the year, the dealer cost of identical lamps increased to $600. The retailer purchases another lamp at this $600 cost. At the end of the year, one of the two lamps is sold for $800. Given that the retailer applies the FIFO method, which of the following is the retailers Gross Margin?

$300

$600

$250

$200