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Smith Company engaged in the following transactions during Year 2 . The company paid cash to purchase $11,800 of inventory . The company sold

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Smith Company engaged in the following transactions during Year 2 . The company paid cash to purchase $11,800 of inventory . The company sold inventory that cost $9,700 for $18,000 cash Operating expenses incurred and paid during the year, $6,000. " What is Smith's gross margin for the Year 2? $9,700. $6,200. $2,300. $8,300.

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