Selected information from the accounting records of the Clemens Company is as follows: Net accounts receivable at December 31 . 2013 .......... $ 900,000 Net accounts receivable at December 31 . 2014 .......... 1,000,000 Accounts receivable turnover .......................... 5 to 1 Inventories at December 31 . 2013 ...................... $1,100,000 Inventories at December 31 . 2014
...................... 1,200,000 Inventory turnover .................................... 4 to 1 What was Clemens' gross margin for 2014?
a. $150,000
b. $200,000
c. $400,000
d. $500,000
A
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