Assume Anderson's General Store bought, on credit, a truckload of a merchandise from American Wholesaling costing $23,700. If Anderson's paid National Trucking $720 cash for transportation, immediately returned goods to American Wholesaling costing $1,300, and then paid American Wholesaling within the 3/30, n/60 purchase discount period. How much did this inventory cost Anderson's? Assume Anderson's uses a perpetual inventory system. Inventory Cost ces Merchandise costing $3,000 is sold for $4,000 on terms 2/30, n/60. If the customer pays within the discount period, what amount will be reported on the income statement as net sales and as gross profit? Net Sales Gross Profit Inventory at the beginning of the year cost $13,900. During the year, the company purchased on account) Inventory costing $86.500. Inventory that had cost $82,500 was sold on account for $97,000. At the end of the year inventory was counted and its cost was determined to be $17.900. Required: a. Show the cost of goods sold equation using these numbers, b. What was the dollar amount of gross profit? Complete this question by entering your answers in the tabs below. Required A Required B Show the cost of goods sold equation using these numbers Beginning Inventory Add: Purchas Low Cost of Goods Sold Ending twentory Roureda Required B> Proy 3 4 of 7 I Next > NO $ 4 2. 6 2 1 0 3 5 0 7 00 8 w 3 E R T Y U o O P S D L F G 0 H K A L