Ballard Company uses the perpetual inventory system. The company purchased $8,300 of merchandise from Andes Company under the terms 4/10, net/30. Ballard paid for the merchandise within 10 days and also paid $280 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $15,600 cash. What is the gross margin that resulted from these transactions? Multiple Choice $7,352. $8,300. $7,020. O $7,300.

Ballard Company uses the perpetual inventory system. The company purchased $8,300 of merchandise from Andes Company under the terms 4/10. nev30. Ballard paid for the merchandise within 10 days and also paid $280 freight to obtain the goods under terms FOB shipping point. Alt of the merchandise purchased was sold for $15,600 cash. What is the gross margin that resulted from these transactions? Multiple Choice $7,352 58,300 $7020 57,300