Question 40 2 pts On September 1, Triumph Inc. purchased a merchandise from a vendor at a list price of P 1,000,000. Triumph receives trade discounts of 20% and 10% from the vendor. The term of shipment is free on board delivery point, freight collect. Credit terms allowed by the vendor is 2/10, 1/15, n60. Triumph Inc. uses gross method of recording purchases and periodic inventory system. Triumph Inc. paid the vendor on September 14. Compute the invoice price of the merchandise purchased by Triumph Inc