1) Merchandising businesses generate revenue by merchandise inventory. (20pts) True False 2) Which of the following costs are period costs? (20pts) 00 Administrative Costs Axolotl Costs Product Costs Selling Costs 3) The Klingons sold merchandise to the Romulans, on account, for $12,300. The merchandise cost (20pts) the Klingons $5,700. The payment terms were 2/10, n/30. The Romulans paid their bill after the discount period had ended. What amount would the Klingons recognize on their books? $6,600 $2,910 $6,354 $5,730