The general ledger shows a balance of $66,200 in the Merchandise Inventory account at the end of the period. The physical inventory count shows inventory of $62,800. (Assume a perpetual inventory system.) The adjusting entry includes a O A. debit to Cost of Goods Sold and a credit to Merchandise Inventory for $3,400 O B. debit to Merchandise Inventory and a credit to Cost of Goods Sold for $3,400 O C. debit to Merchandise Inventory and a credit to Cash for $3,400 OD. debit to Cost of Goods Sold and a credit to Cash for $3,400 Dublin, Inc. uses the periodic inventory system. On February 1, the corporation purchased inventory on account for $16,000. The terms were 5/10, n/30. On February 2, it returned damaged goods worth $500 to the supplier. Give the journal entry for the payment if the invoice is paid after the discount period. (Round your answers to the nearest dollar) .... 16.000 O A. Accounts Payable Cash Purchase Discounts 15,200 800 16,000 16,000 OB. Cash Accounts Payable O C. Accounts Payable Cash 15,500 15,500 OD. Cash Purchase Discounts Accounts Payable 15,200 800 16,000 A company made net sales revenue of $500,000, and cost of goods sold totaled $300,000. Calculate its gross profit percentage. O A. 125% OB. 315% O C. 40% OD. 60%