Required Information [The following information applies to the questions displayed below.] Pam's Creations had the following sales and purchase transactions during Year 2. Beginning Inventory consisted of 200 items at $88 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Calculate the gross margin Pam's Creations would report on the Year 2 income statement. (Amounts to be deducted should be dicated with a minus sign.)