Royal Company uses the periodic inventory method.The following balances were drawn from the accounts of Royal Company prior to the closing process: The amount of gross margin appearing on the income statement should be:

Question

Royal Company uses the periodic inventory method.The following balances were drawn from the accounts of Royal Company prior to the closing process:  The amount of gross margin appearing on the income statement should be:

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The Answer of Royal Company uses the periodic inventory method.The following balances were drawn from the accounts of Royal Company prior to the closing process:  The amount of gross margin appearing on the income statement should be:

Royal Company Uses the Periodic Inventory Method