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Business, 10.03.2020 07:05 aubrey13m

Ballard Company uses the perpetual inventory system. The company purchased $16,000 of merchandise from Andes Company under the terms 2/10, net/30. Ballard paid for the merchandise within 10 days and also paid $500 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $30,000 cash. What is the amount of gross margin that resulted from these business events?

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Ballard Company uses the perpetual inventory system. The company purchased $16,000 of merchandise fr...
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