QUESTION Sullivan Company uses the periodic inventory method. The following balances were drawn from the accounts of Sullivan Company prior to the closing process Sales revenue Beginning inventory balance Purchases Transportation-in Transportation-out Purchase discounts Ending inventory balance $24,e88 6,488 16,898 800 1,288 488 7,280 The amount of gross margin appearing on the income statement should be $8,400 S7,200 O $15,600. O $18,400