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Barney Company uses the perpetual inventory system. The company purchased $6,000 of merchandise from Bittiker Company under the terms n/30. Barney also paid $240 freight

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Barney Company uses the perpetual inventory system. The company purchased $6,000 of merchandise from Bittiker Company under the terms n/30. Barney also paid $240 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $13,000 cash. The amount of gross margin for this merchandise is: Multiple Choice 56.000 0 0 $7,000 0 56,760 Multiple Choice $6,000. $7,000. $6,760. $5,760

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