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What is the company gross margin for jcs incorporated

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Problem 1: JCS Incorporated experienced the following transactions during its first year of business. The company purchased $16,000 of merchandise from Kent Company. The company paid $2,000 for selling and administrative expenses and purchased land for $5,000. All of the merchandise purchased was sold for $30,000 cash. What is the company's gross margin?

A. $7,000

B. $14,000

C. $23,000

D. $30,000

Reference no: EM132786749

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