24 Assume Beta Company uses the perpetual inventory method and engaged in the following transactions: 1) Purchased $18,000 of merchandise on account under terms 3/10, n/30. 2) Returned $1,800 (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 $23,400 cash. The amount of gross margin from the four transactions is Multiple Choice $4.914. $7.740. $7,686. $5,400. < Prev 9 of 11 Next >