Assume the perpetual inventory method is used 1) The company purchased $13,000 of merchandise on account under terms 2/10, n/30. 2) The company returned $2,500 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 $20,000 cash. The amount of gross margin from the four transactions is Multiple Choice $6,860 $7,000 $9,760 $9,710