2.5 pts Which of the following statements is false about a perpetual inventory system? O Inventory purchases are recorded in the purchases account. The inventory account is decreased when goods are sold. O Inventory purchases are recorded in the inventory account. The inventory account balance shows what inventory should be on hand at any point in the period. Beginning inventory plus purchases is referred to as: Gross profit. O Cost of goods (or merchandise) available for sale. O Cost of goods sold. O Ending inventory. If shipping terms are F.O.B. shipping point, it means that: O The freight charges are due when the goods are delivered. The buyer is responsible for paying the freight. Title to the goods passes when the goods reach their destination. O The seller is responsible for paying the freight. Question 3 2.5 pts Which of the following statements would be true about the credit terms, 1/15, n/30? O A one percent discount is available if the customer pays within thirty days. O A fifteen percent discount is available if the customer pays within one week. If the discount is not taken, the invoice is due within thirty days. O A fifteen percent discount is available if the customer pays within thirty days