Assume the perpetual inventory system is used. 1) Green Company purchased merchandise inventory that cost $17,200 under terms of 3/10, 1/30 and FOB shipping point. 2) Green Company paid freight cost of $720 to have the merchandise delivered. 3) Payment was made to the supplier on the inventory within 10 days. 4) All of the merchandise was sold to customers for $25,900 cash and delivered under terms FOB destination with freight cost amounting to $520. What is the amount of gross margin that results from these transactions? Multiple Choice $7.976 $8,496 $8,696 $9,216