Answer the following

Q3 questions (1) ome Insert Design Layout References Mailings Review View Cambria ste Discussion Question Z. Can a business earn a gross profit but incur a net loss? Expl 3. In computing the cost of merchandise sold, does each of the following i increase or decrease that cost? (a) freight, (b) beginning merchandise inventory (c) purchases discounts, (d) ending merchandise inventory 9. What is the meaning of (a) 2/10, n/30; (b) n/90: (c) n/eam 16. Office Outfitters Inc, which uses a perpetual inventory system, experienced a normal inventory shrinkage of $3,750. What accounts would be increased and decreased to record the adjustment for the inventory shrinkage at the end of the accounting period? E4-6 Income Statement for Merchandiser For the fiscal year, sales were $12,140,000, sales discounts were $250,000, sales returns and allowances were $80,000, and the cost of merchandise sold was $7,000,000 1. 2. What was the amount of net sales? What was the amount of gross profit? Purchase-Related Transactions A retailer is considering the purchase of 100 units of a specific item from either of two suppliers. Their offers are as follows: A: $390 a unit, total of $39,000, 1/10, n/30, plus freight of $750. Page 1 of 2 282 Words English (US)