hitpeewconnect mheckeation.com/fowjconnect htm Lopez Sales Company had the following balances in lts accounts on January 1,2018 Caak Herehandiee Tnventory Land Common B oek Retained Berninge 63,000 43,000 103,900 03,000 26,000 Lopez experienced the following events during 2018 1 Sold merchandise inventory that cost $34,400 for $73,100 2. Sold land that cost $41,200 for $77,300 Required a. Determine the amount of gross margin recognized by Lopez. b. Determine the amount of the gain on the sale of land recognized by Lopez a Gross margin b. Gain on sale of land Prev 3 of 27 Next