1. Which of the following would not be considered a merchandising operation? A) Retailer B) Wholesaler C) Service firm D) Merchandising company 2. A perpetual inventory system would most likely be used by atn) A) automobile dealership. B) hardware store. C) drugstore D) convenience store. 3. In the credit terms of 1/10, n/30, the "1" represents the number of days in the discount period. B) A) C) D) full amount of the invoice. number of days when the entire amount is due. percent of the cash discount. 4. Grayson Company purchased merchandise with an invoice price of $2,000 and credit terms of 3/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms? A) 3% ) 8% C) 36% D) 54%