Question
Darlington Company experienced the following business events during its first month of operations. The company uses the perpetual inventory system. 1) The company purchased
Darlington Company experienced the following business events during its first month of operations. The company uses the perpetual inventory system. 1) The company purchased $13,000 of merchandise on account under terms 3/10, n/30. 2) The company returned $1,700 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $19,800 cash. What is the gross margin that results from these four transactions? Multiple Choice $10,961 $6,800 $5,100 $8,839 < Prev 2 of 6 Next >
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