Homework Answers
| Merchandise Inventory | |
| Sale Value | $ 62,900.00 |
| Less : Cost of Inventory Sold | $ 29,600.00 |
| Hence , Gross Margin | $ 33,300.00 |
| Gross Margin In % for your Understanding | $ 52.94 |
| Gain on Sale of Land | |
| Sale Value | $ 72,800.00 |
| Less : Cost of Inventory Sold | $ 38,800.00 |
| Hence , Gain on Sale of Land | $ 34,000.00 |
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E3 Lopez Sales Company had the following balances in its accounts on January 1, Year 2:...
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