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Pam's Creations had the following sales and purchase transactions during Year $2.$ Beginning inventory consisted of $220$

items at $$90$ each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records.

b$.$ Calculate the gross margin Pam's Creations would report on the Year $2$ income statement. $($Amounts to be deducted should be

indicated with a minus sign.$)$