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Assume Beta Company uses the perpetual inventory method and engaged in the following transactions: 1) Purchased $12,000 of merchandise on account under terms 3/10, n/30. 2) Returned $1,200 (list price) of merchandise to the supplier before payment was made. 3) Paid the account payable within the discount period. 4) Sold the merchandise for $15,600 cash. The amount of gross margin from the four transactions is

$5,160.

$3,276.

$5,124.

$3,600.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91975995

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