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What gross margin that will be shown on the income statement

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Sullivan Company uses the periodic inventory system. The following balances were drawn from the accounts of Sullivan Company prior to the closing process:

Sales revenue$18,500

Beginning inventory balance 4,500

Purchases 9,300

Transportation-in 1,050

Transportation-out 1,250

Purchase discounts 850

Ending inventory balance 4,900

Question 1: What is the gross margin that will be shown on the income statement?

Reference no: EM132538888

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