Assume the perpetual inventory method is used. 1) The company purchased $12,200 of merchandise on account under terms 2/10, n/30. 2) The company returned $1,700 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $18,400 cash. a.The amount of gross margin from the four transactions is: $6,076. $6,200. $8,110. $8,144. b.The net cash flow from operating activities as a result of the four transactions is: $8,110. $6,200. $6,076. $8,144.

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Assume the perpetual inventory method is used.

 

1) The company purchased $12,200 of merchandise on account under terms 2/10, n/30.

2) The company returned $1,700 of merchandise to the supplier before payment was made.

3) The liability was paid within the discount period.

4)               All of the merchandise purchased was sold for $18,400 cash.

 

a.The amount of gross margin from the four transactions is:

$6,076.

$6,200.

$8,110.

$8,144. b.The net cash flow from operating activities as a result of the four transactions is: $8,110. $6,200. $6,076. $8,144.

 

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