Ballard Company uses the perpetual inventory system. The company purchased $9700 of merchandise from Andes Company under the terms 3/10, net/30. Ballard paid for the merchandise within 10 days and also paid $420 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $18,400 cash. What is the amount of gross margin that resulted from these business events?
A. $8700
B. $9700
C. $8280
D. $8571
Answer: D
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