Assume the perpetual inventory method is used. 1) The company purchased $13,600 of merchandise on account under terms 2/10, n/30 2) The company returned $3,100 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $21,200 cash. The amount of gross margin from the four transactions is: Multiple Choice $10,910 $7,448 $10,972