Ballard Company uses the perpetual inventory system. The company purchased $9,100 of merchandise from Andes Company under the terms 4/10,net/30. Ballard paid for the merchandise within 10 days and also paid $360 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $17.200 cash. The amount of gross margin for this merchandise is: Multiple Choice $8,. 59. $7740. $8,104.