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Smith Company sold inventory that cost $5.000 for $9,000 cash. Freight cost was $600 paid in cash. The freight terms were FOB shipping point Based

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Smith Company sold inventory that cost $5.000 for $9,000 cash. Freight cost was $600 paid in cash. The freight terms were FOB shipping point Based on this information, gross margin would be $4,000. net income would be $3, 400. gross margin would be $3, 400. None of the answers are correct

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