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 pald $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 58,300 . $7,020 $7,300