Test 2 Help Darlington Company entered into the following business the perpetual inventory system. during its first month of operations. The company uses 1) The company purchased $12,700 of merchandise on account under terms 4/10,n/30. 2) The company returned $2,200 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 $19,400 cash. Part 2 of 2 points What is the gross margin that results from these four transactions? 2 01.02.21 Multiple Choice oooo Nout Test 2 0 The inventory records for Radford Co. reflected the following: 1 1 Beginning inventory May 1 First purchase e May 1 Second purchase e May 17 Third purchase May 23 Sales e May 31 , 100 units $3.80 , 200 units $4.00 1.400 units $4.10 1.000 units $4.20 3.600 units . $5.70 Part 1 of 3 What is the amount of ending inventory assuming the FIFO cost flow method? points (3 100 Multiple Choice Oo oo 4180 $4,040