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 $7,448 $10.910. Multiple Choice $7,448 $10.910. $10.972 $7,600 The bank statement for Tetra Company contained the following items a bank service charge of $45; a credit memo for intere earned, $50; and a $120 NSF check from a customer. The company had outstanding checks of $275 and a deposit in transit $650. Assuming that the unadjusted bank balance was $1,300, what is the unadjusted book balance? Multiple Choice $1.675 $1.185 $1,790 Multiple Choice $1.675 $1,185 $1,790 $1,950 Melbourne Company uses the perpetual inventory method, Melbourne purchased 1,400 units of inventory that cost $8.75 each At a later date the company purchased an additional 1,500 units of inventory that cost $9.25 each. If Melbourne uses a LIFO cost flow method, and sells 1,700 units of inventory, the amount of ending inventory appearing on the balance sheet will be: Multiple Choice $15.625 $10.800 $11.100 Multiple Choice $15,625 $10,800. $11.100 $10.500