A company has sales of $396,600 and its gross profit is $167,100. Its cost of goods sold equals: Multiple Choice $563,700. $227,700. 0 $229,500 O $396,600 O $167100. $167,100. On September 12, Vander Company sold merchandise in the amount of $8,200 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $5,200. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is: Multiple Choice 0 5,200 Purchases Accounts receivable 5,200 0 8,200 Purchases Accounts receivable 8,200 0 5,2ee Accounts payable Merchandise inventory 5,200 0 8, 2001 Purchases Accounts payable 8,200 0 8,200 Merchandise inventory Accounts payable 8,200 On September 12, Vander Company sold merchandise in the amount of $6,400 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,300. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Jepson makes on September 18 is: Multiple Choice 6,208 Purchases Cash 6, 208 6,400 Accounts payable Purchases discounts Cash 192 6, 208 0 Cash 6,208 192 Purchases discounts Accounts payable 6,400 0 6,208 Cash Accounts receivable 6,208 0 16,400 Accounts payable Merchandise inventory Cash 192 6,208 Cushman Company had $810,000 in sales, sales discounts of $12,150, sales returns and allowances of $18,225, cost of goods sold of $384,750, and $278,640 in operating expenses. Gross profit equals: Multiple Choice $779,625. $394,875. O S407025. $16,235. $413,100